After attending the Amazon.com, Inc. (NASDAQ:AMZN) AWS re:Invent conference in Las Vegas last week, Nomura analyst Anthony Diclemente highlights key takeaways. As far as Diclemente assesses the online auction and e-commerce leader’s position, there now lies bolstered competitive advantage for AMZN amid its new product unveilings.

From compute capacity to service boosts in both value as well as margin, the analyst forecasts, “we expect Amazon to ultimately take leadership,” including areas of the likes of Artificial Intelligence/Machine Learning as well as Database and entry into the Internet of Things (IoT) appliance-verse.

Therefore, with confidence in the leader’s rising and innovative development, the analyst reiterates a Buy rating on shares of AMZN with a $950 price target, which represents a 26% increase from where the stock is currently trading.

First, Diclemente commends Amazon for a streetwise edge to its original cloud platform, asserting, “The built-in advantage of being the first cloud provider at scale has created a significant ecosystem of customers and partners who provide a robust feedback loop that informs the industry-leading innovation pace at AWS.”

Moreover, the company continues to reign as champion thanks to its well-rounded offerings that have secured a clear leadership position that various conference partners attested. From the analyst’s perspective, “Our conversations with AWS customers at the conference reinforced the idea that Amazon continues to win business on its ability to offer the most complete product set.”

“Ultimately, the focus of the week was the continued advancement of Amazon’s industry lead in terms of cloud feature depth. While much of the investor conversation leading into re:Invent revolved around recent AWS price cuts, the conference presented a resounding display of Amazon’s industry-leading capabilities in cloud feature depth and innovation. We walked away from re:Invent incrementally positive on Amazon’s ability to offset any price cuts with increased customer acquisition and growing customer utilization,” Diclemente contends.

According to TipRanks, which measures analysts’ and bloggers’ success rate based on how their calls perform, five-star analyst Anthony Diclemente is ranked #252 out of 4,240 analysts. Diclemente has a 62% success rate and earns 9.0% in his annual returns. When recommending AMZN, Diclemente gains 28.5% in average profits on the stock.

TipRanks analytics indicate AMZN as a Strong Buy. Out of 35 analysts polled in the last 3 months by TipRanks, 33 are bullish on Amazon stock and 2 remain sidelined. With a return potential of 28%, the stock’s consensus target price stands at $947.84.