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Amazon (AMZN) Sees Cloud Business as a Long-Term Opportunity

NEW YORK (TheStreet) -- Amazon's (AMZN) biggest source of profit is its cloud-computing services division called Amazon Web Services, or AWS, but it's a long-term play, said AWS CEO Andy Jassy in a clip aired on CNBC's "Power Lunch" Wednesday afternoon.

"I don't think there will only be one successful company in this space. But I don't think there will be 30," Jassy claimed.

That's because these types of businesses require both scale and breadth of functionality, he explained. "So I think the opportunity is really large, and it's one of the reasons why we often say that we think AWS has the potential to be the biggest business at Amazon long term."

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