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D.A. Davidson analyst Gil Luria stated that Amazon's cloud business is gradually losing its leading position in the competition with Microsoft Azure and Google Cloud, which is why the stock rating has been downgraded to neutral and the target price has been significantly reduced from $300 to $175. "Although AWS growth has slightly accelerated to 24%, Google Cloud's growth has accelerated to 48%, and despite limited resource allocation, Azure still achieved 39% growth." Luria pointed out that Amazon's failure to establish a strong position in cutting-edge AI labs is dragging down its performance; meanwhile, Google's in-house TPU chip outperforms Amazon's Trainium, "which is also influencing customer preferences."