TD SYNNEX Corporation (SNX) has inked a new strategic collaboration agreement (SCA) with Amazon Web Services (AWS), an Amazon.com, Inc. (NASDAQ: AMZN) company, to help small and medium-sized businesses and public sector organizations expand their customer bases.
According to Synnex, a provider of B2B IT services globally, the enhanced range of AWS Cloud services will complement its digital business offerings. Notably, the agreement includes the North America, Latin America, and Caribbean regions.
Benefits of the Agreement
Through the SCA, independent software vendors (ISV) and partners throughout the channel will gain access to numerous cloud solutions provided by AWS, which, in turn, will expand the vendors’ reach.
Additionally, Synnex will invest in resources to help businesses in implementing cloud technology to strengthen partnerships.
Official Comments
VP of Worldwide Channels & Alliances at AWS, Ruba Borno, said, “Over the last 18 months, we have seen a significant rise in demand and adoption of cloud solutions as businesses look to expand their digital offerings. We are very excited to expand our relationship with TD SYNNEX and help businesses expand their customer base and bring new products to market.”
Wall Street’s Take
On January 11, Morgan Stanley analyst Brian Nowak maintained a Buy rating on Amazon and lifted the price target to $4,200 (29.52% upside potential) from $4,000.
Consensus among analysts is a Strong Buy based on 30 unanimous Buys. The average Amazon price target of $4,150.83 implies 28% upside potential from current levels. Shares have gained 3.9% over the past year, according to the Amazon price chart.
Website Traffic
TipRanks’ Website Traffic Tool, which uses data from SEMrush Holdings (SEMR), the world’s biggest website usage monitoring service, offers insight into Amazon’s performance.
According to the tool, the Amazon website recorded a 24.99% decrease in global visits in December compared to the same period last year. Also, a quarter-to-date comparison showed a fall of 27.35% compared to Q4 2020.
Furthermore, in 4Q21, the traffic to the overall Amazon website from total estimated visits declined marginally, on a global basis. This, in turn, indicates the company’s top-line results as a whole might have been impacted to some extent in the to-be-reported quarter.
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