Glonghui, April 23 | Bank of America Securities released a report stating that Amazon's key indicators for the first quarter are expected to develop in the right direction. The bank expects the Group's revenue for the first quarter to be US$143 billion, which is in line with market forecasts; AWS and the advertising business will exceed market expectations, and the retail business is also expected to beat expectations. As for AWS, the bank sees a positive increase in the backlog in the fourth quarter. It expects a quarterly increase of $545 million in the first quarter, or 16% year-on-year. The bank also expects the Group's operating profit for the first quarter to be 11.5 billion US dollars. Bank of America said that due to the recent depreciation of the US dollar and seasonal factors affecting demand, Amazon's revenue forecast for the second quarter was lowered by 1.5 billion US dollars to 149.9 billion US dollars, while the EBIT for the second quarter was expected to be 13.4 billion US dollars. For the retail business, the bank expects the group's retail sales to rise in the first quarter, but it may slow down in the second quarter. According to the bank, considering that the Group's retail profit margin continues to expand and AWS is expected to accelerate growth, the stock is expected to expand multiple times this year, reaffirming its “buy” rating and target price of 204 US dollars.