Amazon has established itself as the third-largest advertising business in the world, generating over $50 billion in advertising revenue in the trailing twelve months, with $2 billion added year-over-year. Despite this growth, the company faces challenges with its razor-thin profit margins, which are the lowest in its industry. Morgan Stanley has expressed concerns about Amazon's profit expectations for the upcoming holiday season, suggesting that Wall Street's projections may be overly optimistic. Additionally, Amazon is considering cutting 14,000 managerial positions to save $3 billion annually. The company's CEO highlighted that sponsored ads drive the majority of its advertising revenue, and there is potential for further growth in this area. AWS has already hit a $100+ billion run-rate, and Morgan Stanley has set a price target of $210 for Amazon's stock.