Amazon’s ‘crown jewel’ is this business that doesn’t get nearly enough attention
1. Amazon's ad business is growing rapidly, projected at 20% YoY growth since 2019. 2. Analyst Laura Martin believes advertising could surpass AWS and e-commerce in importance. 3. Amazon's ad segment yields 70% operating margins, outpacing AWS's profitability. 4. The ad business is crucial as it uses first-party shopping data for targeted ads. 5. Amazon's advertising revenue contributes over 50% of the company’s total operating income.