According to a research report published by Morgan Stanley, Amazon (NASDAQ:AMZN) showed a significant improvement in the profitability of the company’s retail business in the fourth quarter of last year, which made the bank more confident in future scale-driven efficiency and profit improvement, and raised its retail EBIT forecast by $8 billion this year. Damo pointed out that although its AWS business is facing near-term macro uncertainty, it will cut its AWS revenue forecast for this year and next by 6%, but believes that the impact is only temporary, emphasizing that it is still optimistic about the long-term development of the business, and the target price is raised to $150. The bank also raised its overall EBIT forecasts for this year and next by 28% and 19%, rating it overweight.