UBS published a research report that Amazon (NASDAQ:AMZN) had mixed results in the fourth quarter of last year, with the retail business stronger than expected; AWS’s revenue growth fell sharply in January, and the company expects the business to experience a slowdown of several quarters before the economic environment stabilizes, which may affect margin performance. UBS expects that unless AWS’s performance becomes more stable, it will be difficult for the stock price to recover in the short term. Driven by the retail business, UBS has improved its outlook for this year and next, with its overall revenue forecast for this year rising from US$538 billion to US$555 billion and EBIT forecasts raising to US$22 billion. The revenue forecast for the first quarter of this year was raised to $124 billion, while the EBIT forecast was raised to $3.8 billion from $1.5 billion. The price target was raised to $127 from $118, maintaining the buy rating.