This Phenomenal Segment Could Be Worth $550 Billion to Amazon

At a current market capitalization of $1.6 trillion and trailing 12-month net revenue of $554 billion, Amazon (NASDAQ: AMZN) is a gargantuan business that hardly flies under the radar. And the fact that its shares have skyrocketed more than 6,200% in the past 20 years attracts even more investor attention.

Everyone is familiar with this tech juggernaut's sprawling e-commerce operations. In fact, Amazon accounts for nearly 40% of all online spending in the U.S. But there's another booming segment that cannot be ignored. It could be worth $550 billion just on its own. I'm talking about Amazon Web Services (AWS).

Amazon launched AWS to the public in 2006. Founder and former CEO Jeff Bezos realized that as the world became increasingly digitized, other companies would need access to cloud-based tech infrastructure. And boy, was he right.

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Source Fool.com