Amazon's cloud business is losing market share to Microsoft and Google.
Amazon ( AMZN 0.29% ) has dominated the U.S. e-commerce market for decades, but sales from its online store haven't been the company's main growth driver in recent years. The company's golden goose is cloud computing .
Some investors may not realize that Amazon Web Services (AWS) generates most of Amazon's profit, not online retail. The growth in AWS in recent years has, in a lot of ways, strengthened Amazon's e-commerce business. For example, the artificial intelligence (AI) capabilities Amazon has gained through AWS have trickled over to its online store in the form of new AI shopping assistants like Rufus.
But this synergy between its cloud and e-commerce business raises some concern about the recent gro