Shares of tech giant Amazon (NASDAQ:AMZN) were little changed in today’s trading despite rolling out its AWS App Studio, which is a new tool powered by AI that helps users create enterprise-grade apps just by describing what they need. Instead of taking days for a developer to build an app, the AWS App Studio can create one in minutes and is designed for IT project managers, data engineers, and other tech-savvy professionals who aren’t coders. In fact, apps can be tweaked with a point-and-click interface.
Amazon appears to be solving a major issue for businesses. It noted that a lot of businesses manage daily tasks with spreadsheets and documents, which can be a pain and full of errors. Custom apps can make life easier, but they’re often hard to come by due to limited development resources. And while low-code tools exist, they usually need specific know-how and often fail security checks, which are ultimately shut down by IT departments.
Amazon claims that its AWS App Studio makes app creation simple and secure and handles everything from deployment to maintenance. Users can link their apps to various data sources and third-party services without touching a line of code. This has the potential to save businesses a lot of money and free up their top programmers for more important tasks.
However, it’s worth noting that the app is only available in preview in Oregon at the moment.
Is AMZN a Buy Right Now?
Turning to Wall Street, analysts have a Strong Buy consensus rating on AMZN stock based on 42 Buys assigned in the past three months, as indicated by the graphic below. After a 55% rally in its share price over the past year, the average AMZN price target of $222.45 per share implies 12.14% upside potential.
