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Millicom (TIGO), AWS Team Up to Expand Cloud Service Offerings
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Millicom International Cellular (TIGO - Free Report) recently announced a strategic collaboration of its Tigo Business division with Amazon Web Services (“AWS”) aimed at accelerating the development and adoption of cloud services across Latin America. With extensive operations across nine countries in Latin America, Tigo Business offers a broad range of professional services, including smart connectivity and storage solutions for both private and public clouds. All its catalog solutions include robust security measures. The recent venture with AWS will significantly strengthen its digital solutions portfolio, enabling it to tap into the growing demand for business process optimization.
An IDC report suggests that the cloud market in Central America and the Caribbean is projected to reach $283.2 million in 2024, with a CAGR of 18.6% from 2023 to 2028. The incorporation of digital services is fundamentally changing how businesses handle and safeguard their data. The transition is enabling businesses to leverage cloud technologies to enhance efficiency, scalability and flexibility in data management.
In this evolving landscape, chief information officers are planning to allocate a significant portion of their budgets to compliance solutions, with a focus on data sovereignty. With its cutting-edge portfolio of professional services and comprehensive security measures, Tigo Business aims to capitalize on this emerging market trend.
Through the recent agreement, Tigo Business will enhance its capabilities to become the reference partner for AWS customers. This partnership will enable Tigo to provide essential tools and support to thousands of enterprises on their cloud journey, making advanced technology more accessible to businesses of all sizes.
The collaborative initiatives will also focus on the development and distribution of digital content across communities in Latin America. Access to advanced digital services and training will cultivate a digital ecosystem that will foster digital inclusion and sustainable economic development in the region.
Shares of TIGO have gained 58.5% over the past year against the industry’s decline of 14.3%.
Image Source: Zacks Investment Research
Zacks Rank and Key Picks
TIGO currently carries a Zacks Rank #3 (Hold).
Arista Networks, Inc. (ANET - Free Report) , carrying a Zacks Rank of 2 at present, supplies products to a prestigious set of customers, including Fortune 500 global companies in markets such as cloud titans, enterprises, financials and specialty cloud service providers. You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
Arista delivered a trailing four-quarter average earnings surprise of 16.07%. It has a long-term growth expectation of 15.68%.
Motorola Solutions, Inc. (MSI - Free Report) provides services and solutions to government segments and public safety programs, along with large enterprises and wireless infrastructure services. Currently, Motorola holds a Zacks Rank #2 (Buy).
It delivered a trailing four-quarter average earnings surprise of 7.54% and has a long-term growth expectation of 9.47%. In the last reported quarter, Motorola delivered an earnings surprise of 11.51%.
Silicon Motion Technology Corporation (SIMO - Free Report) , carrying a Zacks Rank of 2, is a pioneer in developing RF integrated circuits for mobile devices and NAND flash controller integrated circuits for USB flash drives and memory cards.
The company delivered a trailing four-quarter average earnings surprise of 4.72%. It has a long-term growth expectation of 38.16%.
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Millicom (TIGO), AWS Team Up to Expand Cloud Service Offerings
Millicom International Cellular (TIGO - Free Report) recently announced a strategic collaboration of its Tigo Business division with Amazon Web Services (“AWS”) aimed at accelerating the development and adoption of cloud services across Latin America. With extensive operations across nine countries in Latin America, Tigo Business offers a broad range of professional services, including smart connectivity and storage solutions for both private and public clouds. All its catalog solutions include robust security measures. The recent venture with AWS will significantly strengthen its digital solutions portfolio, enabling it to tap into the growing demand for business process optimization.
An IDC report suggests that the cloud market in Central America and the Caribbean is projected to reach $283.2 million in 2024, with a CAGR of 18.6% from 2023 to 2028. The incorporation of digital services is fundamentally changing how businesses handle and safeguard their data. The transition is enabling businesses to leverage cloud technologies to enhance efficiency, scalability and flexibility in data management.
In this evolving landscape, chief information officers are planning to allocate a significant portion of their budgets to compliance solutions, with a focus on data sovereignty. With its cutting-edge portfolio of professional services and comprehensive security measures, Tigo Business aims to capitalize on this emerging market trend.
Through the recent agreement, Tigo Business will enhance its capabilities to become the reference partner for AWS customers. This partnership will enable Tigo to provide essential tools and support to thousands of enterprises on their cloud journey, making advanced technology more accessible to businesses of all sizes.
The collaborative initiatives will also focus on the development and distribution of digital content across communities in Latin America. Access to advanced digital services and training will cultivate a digital ecosystem that will foster digital inclusion and sustainable economic development in the region.
Shares of TIGO have gained 58.5% over the past year against the industry’s decline of 14.3%.
Image Source: Zacks Investment Research
Zacks Rank and Key Picks
TIGO currently carries a Zacks Rank #3 (Hold).
Arista Networks, Inc. (ANET - Free Report) , carrying a Zacks Rank of 2 at present, supplies products to a prestigious set of customers, including Fortune 500 global companies in markets such as cloud titans, enterprises, financials and specialty cloud service providers. You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
Arista delivered a trailing four-quarter average earnings surprise of 16.07%. It has a long-term growth expectation of 15.68%.
Motorola Solutions, Inc. (MSI - Free Report) provides services and solutions to government segments and public safety programs, along with large enterprises and wireless infrastructure services. Currently, Motorola holds a Zacks Rank #2 (Buy).
It delivered a trailing four-quarter average earnings surprise of 7.54% and has a long-term growth expectation of 9.47%. In the last reported quarter, Motorola delivered an earnings surprise of 11.51%.
Silicon Motion Technology Corporation (SIMO - Free Report) , carrying a Zacks Rank of 2, is a pioneer in developing RF integrated circuits for mobile devices and NAND flash controller integrated circuits for USB flash drives and memory cards.
The company delivered a trailing four-quarter average earnings surprise of 4.72%. It has a long-term growth expectation of 38.16%.