AWS Revenue ConcernsRising inflation and US technical recession are expected to hamper cloud infrastructure spending, affecting AWS growth.
Competitive PressureThe threat, real or perceived, of Walmart as a scaled competitor in merchant services, specifically logistics and fulfillment, could impact the North America operating income margin recovery story at Amazon.
Satellite Project ChallengesThe Kuiper project involves very high upfront capital expenditures and operating losses before it can become profitable.