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Saturday, November 20, 2021 9:38:20 AM
By: TheStreet | November 19, 2021
• Amazon , Microsoft, Google and Oracle ORACLE were asked by the Defense Department Friday to submit bids for a new cloud contract.
Amazon Web Services AMZN, Microsoft MSFT, Alphabet’s Google GOOGL and Oracle ORACLE were asked by the Defense Department Friday to submit bids for a new cloud contract.
The request comes four months after the Pentagon cancelled a $10 billion cloud contract controversially awarded to Microsoft in 2019 and challenged by Amazon.
The Defense Department’s link to a news release about the contract request was broken as of about 4:30 p.m. ET, but earlier news reports said the new contract(s) could total billions of dollars.
The government anticipates awarding two contracts -- one to AWS and one to Microsoft. “But [it] intends to award to all cloud service providers that demonstrate the capability to meet DOD’s requirements,” the General Services Administration said, according to media reports.
No news about the contract was available on GSA’s web site around 4:30 p.m. ET.
Amazon stock closed Friday at $3,767, down 0.53%; Microsoft shares at $343.11, up 0.54%; Alphabet at $2,979, down 0.61%; and Oracle at $93.97, down 0.73%.
The Nasdaq Composite index climbed 0.4% Friday.
Morningstar analyst Dan Romanoff likes Amazon, though he sees short-term issues.
“We are lowering our fair value estimate for wide-moat Amazon to $4,100 per share from $4,200, based mainly on margin pressures arising from hiring and shipping challenges,” he wrote last month.
“Amazon remains well positioned to prosper from the secular shift toward e-commerce and the public cloud over the next decade, but we do see a modest reset in terms of growth and profitability through the next several quarters.”
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