Amazon AWS Growth Profile Last 5 Years & Thoughts on AWS Value

Amazon AWS Growth Profile Last 5 Years has been amazing. Revenue went up from $1.5B in 2015 to $7.5B in 2019 which is 5 times multiple over 4 years. The Operating Income growth is slowing down as more competitors emerge include Azure and GOOGL.

IT Enterprise is a $Trillion Market so continues growth is possible. However hard to predict operating income growth. The servers and hardware need to be replaced over time Paya will be there although hardware cost keeps falling over time. As of now I think attributing a valuation of $50B to $100B for AWS is feasible assuming rosy assumptions. That still leaves $750B for rest of AMZN.