UBS Sees AWS Growth Reaccelerating to 48% by 2027

UBS expects AWS growth to reach 48% in 2027 as OpenAI begins using Amazon’s Trainium chips, arguing that investors are underestimating both the backlog and long-term revenue potential.
The firm projects $AMZN revenue rising from roughly $831 billion in 2026 to around $1.7 trillion by 2030 , while EPS climbs from $11 to $45 .
UBS expects the expansion to be driven by faster AWS growth, improving retail margins, advertising and continued gains in same-day delivery.