E-commerce giant Amazon (NASDAQ: AMZN) launched the now-ubiquitous Amazon Web Services way back in 2006. It took a while for the concept of cloud computing to really catch on, but today, AWS is churning out over $20 billion of revenue each quarter.

And unlike Amazon's core e-commerce business, AWS sports sky-high profit margins. In the third quarter of 2022, AWS reported an operating margin of 26%.

Growth has been relentless for AWS and the cloud infrastructure market over the past decade. Start-ups are choosing cloud computing by default, and enterprises are increasingly moving workloads to the cloud. AWS has snagged around 34% of the market, becoming the default cloud provider for many businesses. In the long run, it seems likely that demand will continue to grow at a healthy pace.

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Source Fool.com