On April 21, starting at about 1:40 in the morning, Amazon Web Services had their worst outage ever, putting customers large and small out of commission for days. As of this writing, services are nearly restored, but some work remains.
Not only was it a disappointing misstep for Amazon, but cloud computing as a whole took some lumps, with some even asking if the cloud computing hysteria was officially over.
And yet, Amazon’s stock ended the week at $185.89, over $7 higher than it stood at the end of the week prior. Why?
Because, perversely, the outage at Amazon served as a reminder of what a cloud computing powerhouse they’ve become. And it happened on top of a slew of articles like this one in the Wall Street Journal, touting the Gartner and Forrester projections for Cloud Computing’s growth.
Amazon had a difficult week, and attention immediately focused on their legendarily secretive culture. At the same time, the far-reaching nature of the outage has only underscored the magnitude of their leadership in cloud computing. And the stock price shows it.