Oppenheimer believes that Amazon dropped 2% yesterday due to ChannelAdvisor monthly data which showed that the company's same-store sales growth decelerated last month. However, the firm says the data is inaccurate, as it is based only on GMV. Moreover, after attending the AWS event and conducting checks, Oppenheimer believes that the company is "by far" the leader in the cloud revolution. It thinks that Amazon is an "outstanding" innovator, and reiterates an Outperform rating.
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