On Wednesday, e-commerce giant Amazon (NASDAQ:AMZN) announced that it’s investing €10 billion in Germany in order to boost innovation and grow its logistics network and cloud services. This move will create 4,000 new jobs at three new fulfillment centers in Horn-Bad Meinberg, Erfurt, and Großenkneten, bringing Amazon’s total number of permanent employees in Germany to over 40,000 by year’s end. These new roles will span various levels and areas across more than 100 German cities and municipalities.
On top of that, AWS is putting €7.8 billion into the AWS European Sovereign Cloud, which is set to launch in Brandenburg by 2025 and will allow customers to meet operational autonomy and data residency requirements. This pushes Amazon’s total planned investments in Germany to €17.8 billion and indicates that it is making a long-term commitment to Europe’s digital future.
AWS will also invest €8.8 billion by 2026 to expand its cloud infrastructure in Frankfurt, addressing the rising demand for AI and other services. This plan is expected to add €15.4 billion to Germany’s GDP and support about 15,200 full-time jobs each year in the local supply chain.
Amazon’s Website Traffic Is Growing
It’s clear that Amazon is working hard to innovate and stay ahead of its competition across its various segments. Luckily for the company, this strategy appears to be working. In fact, Amazon’s website traffic is up 38.21% when compared to last year’s year-to-date period, as indicated by the image below. Since e-commerce is a huge part of its business, growing website traffic is crucial for the company’s success.
Is Amazon a Buy, Sell, or Hold?
Amazon’s share price has jumped by nearly 45% over the past year as equity markets continue to rise. Overall, Wall Street has a Strong Buy consensus rating with an average AMZN price target of $221.48 per share.
