SAA-C02 education - AWS Certified Solutions Architect - Associate - 2023 Updated: 2024

Sustainability initiatives have been organised for most of the agricultural commodities of the Pan Amazon, including palm oil, soy and beef, but also for coffee and cacao. Several of these initiatives have adopted the term roundtable in their names because it conveys the notion of inclusiveness that is a core concept in these multi-stakeholder initiatives. Typically, the stakeholders include all the participants in a supply chain, from the farmer to the retailer, but also commodity traders, consumer goods manufacturers, banks and service supplies, as well as civil society groups.

Their shared goal is to identify effective solutions to the social and environmental challenges associated with conventional production systems. The mechanism used to reform supply chains is typically a voluntary certification system that verifies that the production, trade and transformation of a commodity has complied with a set of best practices that have been agreed to by all the parties. The search for consensus is important, because it means all of the stakeholders have agreed to accept this package of solutions and commit to supporting the commercialisation of the goods that have been certified as sustainable.

Some environmental activists view these initiatives as a form of greenwash and have questioned their efficacy. Participating companies certify the production within their own supply chain, but roundtable initiatives have not succeeded in transforming their respective sectors. Demand for certified commodities has failed to attract a critical mass of producers that would actually transform the market and change the economic drivers of deforestation.

Adoption is highest for coffee (40%) and cocoa (22%), while commodities linked to industrial plantations tend to be lower: palm oil (20%), sugar (3%) soy (2%) and beef (<1%). Part of the explanation for the slow uptake of the voluntary standards is the lack of demand; typically, only about fifty per cent of certified production is actually sold as a certified commodity.

The lack of uptake is yet another manifestation of the dilemma of allocating the cost of environmental protection and social justice. Sustainability protocols cost money, which either adds to the price of a consumer good or reduces the profit margin of commodity producers. Although North American and European consumers are concerned about deforestation, most still choose a lower-cost product, while those in Asia, Latin America and the Middle East are overwhelmingly focused on price. Moreover, global commodity markets are dominated by producers on landscapes that were transformed by agriculture decades or centuries in the past, and these farmers operate without fear of being accused of environmental crimes. Consequently, traders are not motivated to pay a premium to farmers on the agricultural frontier.

A few producers seek to differentiate their products as organic, deforestation-free, fair-trade or antibiotic-free because they are selling their products into a differentiated market and receive a premium for their production in compensation for the extra cost and reduced yields that these systems [allegedly] entail. Others participate because it guarantees them market access. Most producers opt to circumvent the voluntary guidelines or sell to traders unconcerned about sustainability or just ignore the whole process entirely.

Social advocates have questioned the economic benefits of certification because they tend to discriminate against small-scale producers who cannot meet the record-keeping and logistical demands of a certification process. These protocols are negotiated by large-scale producers that dominate the roundtable initiatives and tailor the certification criteria to their supply chains. As formalisation spreads throughout national and international markets, smallholders could be increasingly marginalised within regional and even local markets in contradiction with the stated social objectives of these certification schemes.

“A Perfect Storm in the Amazon” is a book by Timothy Killeen and contains the author’s viewpoints and analysis. The second edition was published by The White Horse in 2021, under the terms of a Creative Commons license (CC BY 4.0 license).

Read the other excerpted portions of chapter 3 here:

Teacher Certification

UAB will only recommend students for certification if they have successfully completed a State-approved teacher education program and other University requirements. Each student is responsible for submitting a completed certification packet to the Office of Student Services during the semester they intend to finish their approved program. A student who does not apply for their Professional Educator Certificate within five years (60 months) after completing a state-approved program may be required to fulfill additional requirements (i.e., testing and/or coursework).

The Office of Student Services will verify that each student meets all degree and certification requirements after graduation and submit completed certification packets to the Alabama State Department of Education.

Timeline

When to Apply

The best time to apply for your Professional Educator certificate is during your last term of enrollment. This timeline will ensure that your paperwork will be submitted to the Alabama State Department of Education(ALSDE) on time.

Deadlines

Completed certification application packets are processed and mailed to the Alabama State Department of Education (ALSDE)in the order they are received.

Recertification of an Alabama Teaching Certificate

Please call the Alabama State Department of Education at 334-694-4557.

The level of courses you take (300, 400, 500, 600, etc.) will be dependent on your last certification, so communicating with one of our program directors is essential.

Important: You are responsible for sending the needed documentation to the state to complete the recertification process.

In 2023, EdSurge published a record number of stories on early care and education — the most we’ve run since we began covering the age group nearly five years ago.

So this year, for the first time, we’re bringing you a list of the stories that resonated most with you, our readers. Below, you’ll find our 10 most popular early childhood stories from the last 12 months, which can loosely be divided into two camps.

In one, we have several stories that dive into the dire conditions of the early learning sector today and what’s at stake now that pandemic-era federal funding has expired. Why is this field so fractured and fragile? What happens now that early learning programs have gone over the “fiscal cliff”?

In the other, we have stories of hope and resilience. In these, our reporters and contributors explore possible solutions and promising innovations underway that may offer a salve to this struggling field, now that broad federal investment in early education is highly improbable. These stories include local efforts, private sector contributions and public-private partnerships that, in many cases, can be scaled up.

Check out our most-read stories of 2023 below. And if 10 isn’t enough, you can read all of our early childhood coverage here.

10. How a Small Town in a Red State Rallied Around Universal Preschool

By Emily Tate Sullivan

In 2017, kindergarten readiness rates in American Falls, a one-stoplight farming community in conservative Idaho, hit “rock bottom.” Then a school leader launched a campaign encouraging families to “read, talk, play” with children every single day. That simple mantra became a movement, and today, the town has embraced a goal of universal preschool. Our reporter visited American Falls to find out exactly how this transformation unfolded.

9. The Child Care Cliff, A Cautionary Tale

By Rebecca Gale and Dianne Kirsch

What is the child care cliff, and why should people care? Those are the questions Rebecca Gale and Dianne Kirsch teamed up to explore with their graphic story. In a series of illustrations, the duo unpacks the child care cliff, what happens after federal funding for child care runs out and why we need to support efforts to invest in child care infrastructure.

8. Child Care Programs See Closures, Resignations and Tuition Hikes After Federal Funding Expires

By Emily Tate Sullivan

It’s been a few months since $24 billion in child care stabilization grants expired, sending the nation’s early care and education programs over the so-called fiscal cliff. Without a stopgap funding solution, the problems those dollars helped paper over are resurfacing. We spoke with educators and families in West Virginia to understand what that historic funding enabled them to do — and the “impossible choices” they now face.

7. What to Know About the Growing Popularity of Employer-Sponsored Child Care

By Emily Tate Sullivan

Employers are increasingly getting involved in child care, offering perks such as on-site care and monthly stipends to offset costs. Last May, EdSurge published an in-depth story about this growing trend and the controversy surrounding it. The next month, we ran a separate story about the top takeaways from our reporting on employer-sponsored child care — our “TL;DR” version.

6. We Need Better Pathways for Becoming an Early Childhood Teacher

By Jay Lee

“Access to high-quality early childhood education is among the most powerful, proven ways to close equity gaps and support communities,” writes Jay Lee, an early childhood teacher in Oakland, California. But there aren’t enough teachers. Why, then, Lee wonders, is it so difficult to become a certified early childhood teacher? In his essay, Lee explores why building inclusive, accessible pathways is key.

5. Federal Government Launches First-of-Its-Kind Center for Early Childhood Workforce

By Emily Tate Sullivan

Challenges facing the early care and education workforce have reached crisis levels since the pandemic began, and the federal government has taken notice. No, the feds are not offering universal pre-K or capping the cost of child care (at least not yet), but they have launched a first-of-its-kind ECE Workforce Center to improve compensation and working conditions for the field. And they’re looking to produce real solutions, not just research reports.

4. Who’s Looking Out for the Mental Health of Infants and Toddlers?

By Emily Tate Sullivan

There’s been a lot of attention lately on the mental health crisis among teens. But what about younger kids? Children of all ages — even babies — can suffer from mental health issues, and they were not immune to the stressors caused by the pandemic. We talked with experts to find out what it looks like when infants and toddlers are struggling — and why early intervention is essential.

3. Did Covid Break Child Care or Was It Already Broken? A Brief Visual Explainer

By Rebecca Gale and Dianne Kirsch

“The U.S. child care system isn’t working for anyone. Without sustained federal investment, it will remain broken,” writes Rebecca Gale, a reporting fellow at Better Life Lab at New America. This visual explainer, which Gale collaborated on with illustrator Dianne Kirsch, explains why.

2. As Bezos Academy Preschools Spread Nationally, Early Childhood Experts Weigh In

By Lilah Burke

Five years ago, Amazon founder Jeff Bezos announced plans to donate money to launch a chain of free preschools. As of May 2023, the Bezos Academy network had more than a dozen sites across Washington, Texas and Florida. Here’s what has pleasantly surprised early childhood experts about the new Montessori-style programs — and what has left them less than impressed.

1. What Happens When You Give Child Care Providers Money — With No Strings Attached?

By Emily Tate Sullivan

What happens if you give child care providers predictable, unconditional cash? That’s the question driving the Thriving Providers Project, a pilot launched in Colorado and expanding to cities across the country. The initiative hinges on the idea that guaranteed income will improve caregivers’ economic stability and, in turn, allow them and the families they serve to thrive. We take a close look at how it works and how it’s going.

There is a great need for special education teachers as states all across the country are experiencing shortages. Today's special education teachers must be highly-skilled individuals who not just understand the complexities of their students’ needs, but can modify curriculum, and provide supplemental instruction.

Drexel University’s School of Education certification in special education program prepares special education teachers for these challenges.

​What ​Can ​You ​Do ​with ​a ​Special ​Education (SPED) ​Certification?

Drexel’s online Special Education (SPED) certification program seeks to produce professionals who are equipped with the fundamental skills, knowledge, and competencies they require to meet the needs of students at risk for school failure and students with disabilities in multiple settings. The program is intended for those interested in gaining greater skills and expertise and a teaching certification in the area of special education.

The responsibilities of special education teachers typically include:​an

• Assess the skills of a student and develop an Individual Education Program (IEP) that meets their educational needs and make updates based on student progress
• Teach students individually, or in small group and whole class settings
• Discuss IEP’s with the student’s parents, teachers, and appropriate school staff
• Mentor and train teaching assistants who work with students with special needs
• Transition students from one grade to the next

How ​to ​Get ​Certified ​in ​Special ​Education

Special Education Certification Eligibility and Admissions Requirements

This online Special Education certification program is for actively certified teachers seeking Pennsylvania's Special Education PreK-12 certification. Candidates must have an active PA Instructional I or Instructional II teaching certificate.

Out-of-state teachers are welcome to participate in the Special Education Program as non-PA certification students.

To be admitted into the Special Education certification program, students must also have a bachelor’s degree from a regionally accredited institution.

Required Materials

• Completed graduate school application
• Undergraduate GPA of 3.0 or higher (graduate GPA will be considered along with the undergraduate GPA)
• If you do not meet this requirement, you’re still encouraged to apply and your file will be reviewed on an individual basis by the Program Director
• Official transcripts from all universities or colleges and other post-secondary educational institutions (including trade schools) attended
• Two letters of recommendation—professional or academic
• An essay describing why the applicant is interested in pursuing graduate study in this field

Special ​Education ​Certification ​Program Curriculum

The Special Education Certification program is a part-time online program consisting of 27 graduate credits. For students that have not completed the prerequisite courses, the program will require 36 credits: 27 credits in Core Special Education Certification courses and 9.0 credits in prerequisites for certification in special education. The certification areas are Special Education PreK-8 and Special Education 7-12.

Course​ ​descriptions​ ​may​ ​be​ ​found​ ​in​ ​the​ ​Drexel​ ​University​ ​Catalog.

Most of the coursework in this program requires field hours. Students must have the necessary clearances in order to begin the program.

Learning Outcomes and Program Benefits

There are multiple learning outcomes and benefits of enrolling in the Special Education Certification Program offered at Drexel University School of Education. Through the program, students will:

• Gain the skills, knowledge, and competencies necessary to meet the needs of students at risk for academic failure and students with disabilities in multiple settings
• Prepare to teach special education at all grade levels from PreK-12
• Complete all the courses required under state and federal regulations, as well as the PA General Standards for Special Education and the standards outlined by the Council of Exceptional Children (CEC).

How ​Long ​Does ​it ​Take ​To ​Get ​Certified ​in ​Special Education?

The Special Education certification program is a part-time, accelerated program. Students, on average, complete the program in about a year and a half.

DO YOU NEED TO RENEW THE SPECIAL EDUCATION CERTIFICATION?

For certified teachers in Pennsylvania, a special education certification follows the same renewal cycle as the teacher’s original teaching certification. If a teacher converts their Instructional I teaching certification to Instructional II, their special education certification will also be converted.

Teachers in Pennsylvania must complete their Act 48 requirements every 5 years to renew their certification. This includes 6 semester hours of college credit (there is a conversion for quarter hours), or 180 hours of continuing education programming, i.e., professional development.

WHO SHOULD APPLY TO THE SPECIAL EDUCATION CERTIFICATION PROGRAM?

Special Education certification is a great program for teachers who are looking to expand their skills to understand how to teach students with special needs. It also a requirement for teachers who would like to become certified special education teachers. Teachers looking for a rewarding career as a special education teacher would also benefit from this program.

Master​ ​of​ ​Science​ ​in​ ​Special​ ​Education

Credits​ ​earned​ ​in​ ​the​ ​Special​ ​Education​ ​Certification​ ​program​ ​may​ ​be​ ​applied​ ​to​ ​the Master​ ​of​ ​Science​ ​in​ ​Special​ ​Education​ ​graduate​ ​program​.​ ​The​ ​MS​ ​program​ ​offers four​ ​concentrations:​ ​Applied Behavior Analysis; Autism​ ​Spectrum​ ​Disorders;​ ​Collaborative​ ​Special​ ​Education Law​ ​&​ ​Process;​ and ​Dyslexia Specialist (Wilson® Level 1 certification).​ ​Students​ ​may​ ​also​ ​work​ ​with​ ​their​ ​academic​ ​advisor​ ​to​ ​develop​ ​a customized​ ​concentration​ ​to​ ​meet​ ​specific​ ​objectives.

How ​to ​Apply ​to ​the ​Special ​Education ​Certification Program

The Special Education certification program is offered 100% online. you can get started by filling out the Drexel Online Application.

2023 was largely a tale of two markets. The “S&P 493” (roughly two-thirds of the index, by market cap) was up 20.3% (on average), while the seven largest mega-cap stocks (i.e. "The Magnificent 7”) were up ~100%, on average (see table below). In this report, we rank each of the Magnificent 7 stocks for 2024, with a special focus on Amazon (NASDAQ:AMZN) (including an update on its business, its four big growth opportunities, valuation and risks). We conclude with our stern opinion on investing in Amazon (and the Magnificent 7) in 2024, especially as compared to non-mega-cap growth stock opportunities.

The Magnificent 7

For some perspective, here is a look at the performance of the Magnificent 7 for 2023 (they are ranked by market cap in the table). They all dramatically outperformed the S&P 500 for the year, but this comes after a weak 2022 (see the 2-year total returns column).

(AAPL) (MSFT) (GOOGL) (GOOG) (NVDA) (META) (TSLA)

You’ll also notice in the table above that Wall Street’s consensus rating for all of these stocks is significantly better than the S&P 500 (note: a 1.0 rating is a “strong buy” whereas a 5.0 rating is a “strong sell”). Also worth mentioning, you can see how they compare on various valuation metrics, such as price-to-earnings and price-to-sales, but there is always more to the story than just those numbers (more on this later).

Also, for a little more perspective, here is a look at just how lopsided performance was in 2023 (i.e. an unusually large percentage of individual stocks (72%) underperformed the S&P 500 because the gains were dominated by the “magnificent 7” representing ~one-third of the total market cap).

Next, we’ll take a closer look at one of the magnificent 7 stocks in particular, Amazon.

Amazon

Many people think of Amazon as the website where you search for whatever you want, click “buy,” and then it shows up at your home or office some days later. And while that part of its business generates the majority of its revenues (84%), basically all of the profits come from its cloud-data hosting service (Amazon Web Services, AWS), which makes up only 16% of the revenues.

So with that high-level backdrop in mind, let’s get into the four big factors that we see driving growth for Amazon in 2024 and beyond.

1. Amazon Web Service (“AWS”), Despite Competition

Amazon Web Service is the leader in the cloud market because Amazon had the foresight to recognize the massive secular opportunities ahead of the traditional big boys, like Microsoft, Google and others (and because Amazon had an infrastructure head start via its online marketplace). You can see the recent worldwide cloud market share in the following graphic.

(BABA) (IBM) (CRM) (ORCL) (OTCPK:TCEHY)

Amazon’s market share in the worldwide cloud infrastructure market stood at 32 percent in the second quarter of 2023, down from 34 percent a year ago. Amazon's main rivals Microsoft and Google saw slightly stronger year-over-year growth, resulting in both increasing their market share by a percentage point compared to last year's June quarter.

Cloud competition is absolutely a concern for Amazon, but it is important to keep it in perspective. Specifically, Amazon is still the worldwide cloud leader, it is very profitable in this space, and it is still growing rapidly. Moreover, the cloud opportunity (and the digitization of everything) remains perhaps the biggest technology secular trend in the world, expected to continue growing rapidly for many years, and recently being accelerated by Artificial Intelligence (more on Amazon AI later).

2. Ads Are Coming to Prime Video

The next big theme that will impact Amazon’s business in 2024 and beyond is the addition of advertising to Amazon Prime videos (expected to begin near the end of January). Amazon Prime is a subscription service that gives users access to additional services (including faster delivery, streaming music and videos, and more).

According to this article, customers will be able to pay an additional $2.99 per month to avoid ads (a prime membership costs $14.99 per month or only $139 if you pay annually). According to the company

“We aim to have meaningfully fewer ads than linear TV and other streaming TV providers. No action is required from you, and there is no change to the current price of your Prime membership."

Considering the large size of Amazon Prime (over 200 million customers worldwide), ads have the potential to meaningfully move the revenue needle for the company.

3. Artificial Intelligence Is Here

With technological advances in artificial intelligence, it has become a major theme (and growth driver) across businesses in every sector. And Amazon is also looking to capitalize on AI opportunities. According to the company:

The number of companies building generative AI apps in AWS is substantial and growing very quickly, including Adidas, Booking.com, Bridgewater, Clariant, GoDaddy, LexisNexis, Merck, Royal Philips and United Airlines, to name a few. We are also seeing success with generative AI start-ups like Perplexity.ai who chose to go all in with AWS, including running future models in Trainium and Inferentia. And the AWS team has a lot of new capabilities to share with its customers at its upcoming AWS re:Invent conference.

Given the profound impact AI is expected to have on the economy, it’s important that Amazon stays at least on pace with the curve so as to not be left behind (as many slower movers inevitably will be). The company says it is also using AI beyond AWS, including helping customers better discover products that meet their needs, forecasting inventory levels, and improving delivery, to name a few.

4. The Andy Jassy Factor

Andy Jassy joined Amazon in 1997, he founded AWS, and he became CEO (succeeding Jeff Bezos) in 2021. Bezos wisely left near the peak of the pandemic bubble (he went out on top), and Jassy has been at the helm while the market bubble burst, and we believe he now has something to prove.

Specifically, Jassy is a winner (he went to Harvard and founded the largest cloud service in the world, AWS), but his compensation has been terrible because it has been tied to the stock price (which has not been great during his short-term as CEO so far).

For example, Jassy’s pay was just $1.3 million in 2022 (tiny for a mega-cap CEO) because, again, it is tied mainly to stock performance (which was terrible in 2022). Jassy’s compensation will likely be much bigger for 2023 (Amazon shares were up 80%), but we suspect he still has a lot more to prove. We like Jassy as CEO and suspect he will do big things with success in the years ahead (such as growing AWS, succeeding with advertising initiatives and prudently implementing AI initiatives).

Amazon’s Valuation

As you can see in our earlier table, Amazon has the second lowest forward PEG ratio (i.e. Price/Earnings/Growth (lower is better)) among the Magnificent 7 (second only to Tesla, which we view as a much more volatile and risky business). Also, don’t be misled by Amazon’s low price-to-sales ratio (it's attractive, but not as attractive as it may seem considering the low margins on the Amazon online marketplace business). However, the forward revenue growth rate is strong, Wall Street rates the shares very highly versus mega-cap peers and (unlike most other mega-caps) Amazon shares are still well below their all-time high. In our view, Amazon is a healthy growing business, benefiting from large secular trends and with a highly competent CEO at the helm.

Amazon’s Risks

Like any company, Amazon faces a variety of risks. For example, the introduction of ads on Prime could backfire. The company may lose customers over it if not done correctly (especially considering there are a variety of streaming competitors). Initially, the magic of streaming was that there were no ads, but as that now changes and competition has increased, Amazon Prime Ads may not be a slam dunk.

Another risk is that Microsoft Azure and Google Cloud are both growing faster than AWS. Fortunately, the cloud is a very big place (and is expected to keep growing rapidly for many years, see our earlier chart from Grandview Research) so there is room for multiple big winners. Nonetheless, AWS competition is a risk.

Another risk is share price volatility. Recall these shares were down dramatically in 2022, up dramatically in 2023, and they could again be volatile in 2024.

So with that information on Amazon, let’s briefly consider the other Magnificent 7 stocks, before drawing a few final conclusions.

The Other Magnificent 7 Stocks:

• Nvidia (NVDA): If you’ve been paying attention at all, you know that Nvidia just had an incredible year following the explosion of AI in 2023. Nvidia makes chips that are used in the cloud (data centers), and that have proven superior to other chips in many scenarios and use cases. As such, the demand for Nvidia chips has been spectacular. What’s more, Nvidia is still the cheapest Magnificent 7 stock on a forward PEG basis because its growth is expected to remain so high in the years ahead. We could absolutely see more high volatility in the near future for these shares, but we could also see a lot more upside in the years ahead.

• Microsoft (MSFT): Microsoft is one of the widest wide-moat businesses around with Microsoft Windows, Microsoft Office and Microsoft Azure. Also, unlike the US Government, Microsoft is one of only two companies that still has a top "AAA" credit rating (Johnson & Johnson (JNJ) is the other). Further, Microsoft is a high-margin business that continues to spend heavily on innovation (see high research margin in our earlier table) and it is supported by massive secular trends (i.e. the cloud and AI). And despite recent price gains, it still trades at a reasonable 2.7x forward PEG multiple and 32x forward PE ratio. In the years ahead, Microsoft will likely be trading much higher.

• Meta Platforms (META): Meta (Facebook, Instagram, WhatsApp) is an absolute money-printing machine (courtesy of its advertising sales). It has an extraordinary 35% net profit margin despite its astronomical spending on research and development (nearly 30%). These shares had a great 2023 (after a terrible 2022). CEO Mark Zuckerberg is a bit of a wildcard, but I wouldn’t bet against this company over the next decade.

• Tesla (TSLA): We predicted Tesla had a huge upside this time last year, but after the company’s powerful gains since that time, the investment has become a little bit less of a homerun (especially in the near term). CEO Elon Musk will have his hands full with distractions, especially considering he owns Twitter (now X) and this is an election year. Wall Street analysts like Tesla the least of the Magnificent 7 (see ratings in our earlier table), but that’s been the case for most of its history, and Musk has consistently proved them wrong.

• Google (GOOGL): Google basically owns the Internet. It has a wide moat, and a reasonable valuation, and the business is supported by the massive cloud secular trend. With a 1.2x forward PEG, and even after a +58% return for 2023, it’s hard not to consider owning shares, especially considering it is such a large part of the economy.

• Apple (AAPL): Famous value investor Warren Buffett owns a huge amount of Apple through his Berkshire Hathaway (BRK.B). He loves the truly massive free cash flow generated by this largest company in the world. We view Apple as the least disruptive and the least innovative of the Magnificent 7 (Tim Cook is great, but the company is not the great innovator it once was), but it’s also a very prudent repurchaser of its own shares and it pays a growing dividend to its gigantic investor base.

Ranking The Magnificent 7:

We wouldn’t bet against the Magnificent 7 in 2024, but we do believe some may perform meaningfully better than others, and that investors may want to reconsider the size of their allocations to these stocks in their portfolios. For 2024, we’re breaking the Magnificent 7 into three tiers:

Tier 3: If the market’s aggregate taste shifts from growth to value in 2024, Apple may be the winner. It is arguably one of the steadiest Magnificent 7 stocks (people aren’t going to get rid of their iPhones, even if the market crashes). But Apple has the lowest expected growth rate and trades at a fairly rich forward PEG ratio. The business is still better than most companies in the world, just not necessarily better than the other Magnificent 7 stocks, in our opinion.

Tier 2: We’re putting Tesla in this group as the valuation has gotten stretched, and Elon will need to pull another rabbit out of his hat (in an election year, no less, when he’ll inevitably be putting out fires at Twitter (now “X”)). We could end up being very wrong on this one, but Tesla is Tier 2 here.

Tier 1: We like Amazon, Alphabet, Microsoft, Meta and Nvidia, but the question is how much of them you want to hold. They make up a truly enormous percentage of the U.S. (and global) market cap, and it could be quite risky to avoid them altogether. However, considering the tremendously strong performance in 2023, you may or may not want to be “overweight” these names for 2024. For a little more perspective, we offer a few non-mega-cap growth stock alternatives and ideas below.

Non-Mega-Cap Growth Alternatives

We noted above how the Magnificent 7 dominated the markets in 2023, but if you actually look closer, there were plenty of non-mega-cap growth stocks that also performed extremely well (in most cases, rebounded very hard), and may be poised for strong gains again in 2024.

For example, check out the following table which includes top-performing non-mega-cap growth stocks in 2023, that are also rated very highly by Wall Street. In fact, many of them have dramatically more price appreciation potential than the Magnificent 7, as per Wall Street analysts, as you can see in the following table.

(SMCI) (CRWD) (UBER) (PANW) (MDB)

Also, here are the same data points for highly rated non-mega-cap growth stocks that underperformed the market in 2023. These names have a ton of upside potential in 2024, as per Wall Street, as you can see in the table below.

If you are looking to diversify away some of your exposure to the Magnificent 7 (especially after the incredible 2023 performance), you might find a few worthwhile ideas in the data above.

Conclusion

Despite the strong 2023 performance, Amazon (and the Magnificent 7, in general) remain extremely attractive businesses. Amazon in particular, is the only Magnificent 7 stock that still sits well below its all-time high (other than Tesla, which we view as a wildcard, especially considering the distractions CEO Elon Musk increasingly faces). And despite Amazon’s incomplete price rebound (so far), it has some extremely attractive qualities, such as AWS, the launch of advertising, AI, current valuation, and CEO Andy Jassy.

Some investors believe the market’s infatuation with “The Magnificent 7” has gone too far, and now prefer to focus on smaller, lessor known, growth stocks with potentially much more upside (such as those we shared in the tables in this report). However, considering the Magnificent 7 makes up such a large (and important) part of the global market cap, we’re absolutely not willing to completely sell out of them altogether. Regarding Amazon, we’re currently long-shares (in our Disciplined Growth Portfolio) and have no intention of selling anytime soon.

Mon, 01 Jan 2024 22:10:00 -0600 en text/html https://seekingalpha.com/article/4660740-amazon-ranking-the-magnificent-7-for-2024

Whether you're famous for your homemade holiday cookies or just want a festive place to store Santa's chocolate chips, this ceramic jar is a must. Standing nearly a foot tall, it's hand-painted and made from sturdy earthenware, ensuring it'll last decades. Plus, at $45, it's currently nearly half off the list price of $78.

Sun, 15 Oct 2023 03:48:00 -0500 en text/html https://www.cnet.com/home/amazon-christmas-decorations/

As a dividend growth investor, the common belief is that companies not paying dividends don't fit into a portfolio centered on dividend growth.

I beg to differ.

Numerous outstanding companies exist that currently don't pay dividends and may not in the foreseeable future. Despite this, I choose to include the best of them in my portfolio due to their exceptional quality and substantial growth potential.

Ultimately, the dividend yield reflects an average of all holdings in one's portfolio.

Take Amazon.com Inc. (NASDAQ:AMZN) as a prime example — synonymous with quality and a 'must-have' for investors seeking growth.

Consider this scenario: if you had invested $10,000 in 2010 and reinvested all the dividends into Amazon, S&P 500 (SPY), and Nasdaq 100 (QQQ), your returns would be as follows:

• AMZN: $217,202, or 24.8% CAGR
• SPY: $53,098, or 12.8% CAGR
• QQQ: $96,500 or 17.7% CAGR

Having followed Amazon for more than a decade and holding it in my portfolio since 2015, I am writing my initial coverage of the company, assigning it an outperform rating heading into 2024.

I view Amazon as being currently undervalued in light of its growth potential, and with the rate cuts coming in 2024, expect valuation expansion and significant growth ahead fueled by demand in its retail business and by AI tailwinds in Amazon Web Services or "AWS".

83% Gain Year-To-Date Without A Slow-Down In Sight

Amazon's stock surged during the pandemic as the demand for e-commerce soared. However, as the Fed began raising rates and economic worries surfaced in 2022, the shares plummeted by 49%.

This year tells a very different story. Amazon's shares have skyrocketed by 83% year-to-date, marking its best performance since 2015, as well as overtaking FedEx (FDX) and UPS (UPS) as the US's No. 1 delivery business. Its market cap is now nearing $1.6 trillion, making it the fourth-largest stock in the S&P 500, trailing right behind Google's (GOOGL) A and B shares.

You might be curious about expecting another stellar year for Amazon after its 2023 success. Yet, Amazon plans to leverage this year's gains by solidifying its leadership position and capitalizing on generative AI. It aims to enhance the profitability of its colossal online retail operations while setting the stage for continued growth.

Amazon's Q3 2023 results showcase their remarkable success across various fronts and confirm the positive momentum.

In the retail sector, the cost-to-serve, and delivery speed took significant strides forward, while AWS saw stabilized growth and advertising revenue experienced robust expansion. Overall, operating income and free cash flow saw notable increases.

The Q3 net sales reached $143.1 billion, marking a 13% increase from Q3 2022's $127.1 billion. Adjusted for a $1.4 billion favorable impact from changes in foreign exchange rates, net sales grew by 11% compared to the same period last year.

Operating income surged, surpassing fourfold to $11.2 billion in Q3 2023 from $2.5 billion in Q3 2022, driven by strong performances in both the retail and AWS sectors.

This successful quarter translated to an increase in net income, reaching $9.9 billion in Q3 2023, or $0.94 per diluted share, compared to $2.9 billion, or $0.28 per diluted share, in Q3 2022.

Operating cash flow witnessed a staggering 81% increase, totaling $71.7 billion for the trailing twelve months ending September 30, 2023, compared to $39.7 billion for the same period in 2022.

Amazon is firing on all cylinders, witnessing growth and remarkable operational efficiency across all its businesses. Looking ahead, the spotlight for the upcoming year will focus on AI's integration into AWS.

Recently, Amazon revealed a suite of new AI-centric products tailored for its expansive cloud computing division, AWS. During its annual re:Invent conference in late November, AWS leaders introduced a new chatbot for businesses, a deeper collaboration with Nvidia (NVDA), a frontrunner in AI chip technology, and an updated version of its own AI chip.

These product launches underline Amazon's commitment to maintaining its dominance in the cloud services provider arena. As of Q2 2023, Amazon held a 32% market share, with Microsoft's Azure (MSFT) following at 22% and Google's Cloud at 11%.

Analysts expect AWS to continue growing as more companies embrace compute-intensive generative AI products, capitalizing on its already substantial size and market share.

The 2024 AI-focused narrative surrounding AWS brings up a recurring point often discussed here on Seeking Alpha: when you invest in Amazon's stock, you're essentially investing heavily in the AWS Business, while acquiring the Retail and Advertising Business at a discount.

I agree with this statement to some extent, and here's why:

During Q3 2023, AWS generated $6.976 billion in Operating Income, standing out as Amazon's most lucrative business, accounting for over 62% of the total $11.188 billion operating income in the quarter.

While reaching the net income involves further deductions for non-operating income impacts and taxes, a rough estimate suggests that AWS contributed around $0.58 or 62% to the $0.94 diluted EPS for the quarter.

Assuming a similar performance for the next three quarters, we could project an AWS EPS of $2.32 for FY24. For Retail and Advertising businesses, an anticipated EPS of $1.41 over the next four quarters seems reasonable, summing up to a total FY24 EPS of $3.73.

Despite analysts forecasting an EPS of $3.49 in FY24, I hold the view that Amazon might surpass this estimate slightly. This belief rests on the foundation of AI advancements driving growth and a robust growth anticipated in both AWS and retail businesses, bolstered by the Fed's rate cuts.

The current stock price stands at $153, and based on an anticipated FY24 EPS of $3.73, the Forward PE ratio rests at 41x, notably below its historical norms.

With an expected EPS growth of 38.6% from FY23 to FY24 and no indication of growth slowing down due to improved operational efficiency, I propose that the stock should ideally be valued at around 60x its forward earnings.

Should the valuation indeed expand to 60x its FY24 earnings of $3.73, my projected price target would be $224 by the end of 2024. This estimation suggests a potential stock appreciation of 46% from today's price.

Fiscal Year	2024	2025	2026	2027	2028
Revenue (b)	$ 636.3	$ 710.1	$ 792.1	$ 877.6	$ 976.5
Revenue Growth	11.5%	11.6%	11.5%	10.8%	11.3%
EPS	$ 3.7	$ 4.7	$ 6.1	$ 7.5	$ 9.2
EPS Growth	38.6%	25.2%	30.4%	23.6%	22.7%
Forward PE	60.0	55.0	55.0	50.0	45.0
Stock Price	$ 224	$ 257	$ 335	$ 377	$ 416

Click to enlarge

As anticipated, the EPS growth is projected to persist in the coming years. Analyst estimates spanning from 2025 to 2028 suggest an average EPS growth of approximately 25.5%.

However, considering a slight decline in this growth trajectory, I foresee a contraction in valuation towards 45x its forward earnings by 2028. This adjustment would potentially lead to a stock price of $416.

While my scenario leans toward heavy bullishness, it's important to acknowledge the various risks that could potentially impede valuation expansion.

Nevertheless, I firmly believe Amazon is presently trading at a discounted rate compared to its historical valuation. This assumption hinges on the expectation of robust EPS growth and the company's transition into a new phase of its life cycle characterized by significant improvements in operational efficiency, driving the bottom line of the business.

To put it into perspective, Amazon has earned a place on multiple lucrative top-pick lists for 2024 curated by Wall Street:

• TD Cowen has designated Amazon as its top large-cap pick.
• Bernstein recognizes Amazon as its "Best Idea" among internet stocks.
• Since August, Wedbush has consistently named Amazon as its "Best Idea."
• Needham includes Amazon among its selection of top big tech companies, alongside Google.

Risks To My Bullish Thesis

At the moment, Amazon is gearing up for what could potentially be the most significant legal battle in its three-decade history. Regulators are questioning the company's market dominance, signaling that Amazon might face substantial scrutiny in the years ahead.

The FTC alleges that the company has leveraged its market authority to inflate prices and overcharge merchants.

In an October 3 client note, JPMorgan expressed that the lawsuit "was largely anticipated, and anticipates difficulties in proving that AMZN unlawfully sustains monopoly power."

Simultaneously, the risk of an economic slowdown could act as a brake on Amazon's growth, impacting both its retail and AWS businesses. This risk remains, even if the Fed successfully engineers a soft landing in 2024, yet the GDP contracts more than expected.

Takeaway

After a challenging 2022, Amazon has bounced back, surging by 83% year-to-date.

This upswing isn't driven by FOMO or market hysteria. Instead, the business is firing on all cylinders, witnessing recovery and growth across AWS, Retail, and Advertising sectors.

I anticipate Amazon will capitalize on this momentum, marking 2024 as the onset of a new era focused on operational efficiency, paving the way for significant profitability.

Presently, the valuation falls below historical averages. With expected rate cuts in 2024, I foresee valuation expansion, leading me to a bullish price target of $220 by the end of 2024, with further growth potential ahead.

While I find the valuation of many businesses appealing, Amazon holds a spot among my top 5 picks for 2024. I anticipate a substantial rally and significant stock appreciation for the company.

Wed, 27 Dec 2023 02:11:00 -0600 en text/html https://seekingalpha.com/article/4659959-amazon-path-to-220-in-2024

The mission of the Dual Special Education Program is to develop competent, caring, and ethical educators who are able to meet the diverse learning needs of all students across a variety of age, grade, and ability levels. The preparation program will facilitate competence in areas of academic, social, and emotional growth, and methods of maximizing a student’s capabilities through diagnostic and instructionally adaptive practices.

The Dual Special Education Certification program prepares candidates to work with special needs populations in pre-kindergarten through twelfth grades (PK-12). Students will follow the requirements for an initial certification program in Elementary and Early Childhood Education, Middle Level Education, or Secondary Education with a few course substitutions permitted as noted below, in addition to completing the extra requirements for the Special Education program. Special Education is a concentration that students may add to their initial program in order to qualify for dual certification.

Elementary and Early Childhood Education Major with Dual Special Education Certification

Students majoring in Elementary and Early Childhood Education with a concentration in Special Education PK-12 will complete the following courses in addition to the afore-cited Elementary and Early Childhood program requirements (not the course substitutions permitted):

• ED 180 – Educational Psychology (a student must earn a final course grade of 2.5 in ED 180 and a cumulative GPA of 2.5 before proceeding to ED 190 and ED 191)
• EDSP 226 – Special Education Methodology II with Field Experience (20 hours)
• EDSP 227 – Behavior Management with Field Experience (20 hours)
• EDSP 300 – Assessment in Special Education (this course replaces the PK-4 ED 344 – Assessment in Early Childhood and Elementary Education—course)
• EDSP 302 – Special Education Methods
• All EDSP courses, in combination, will substitute for the PK-4 ED 363—School, Family, and Community—course)

Special Education certification candidates will complete half their student teaching in a special education setting and half in a regular education setting.

Middle Level Education Major with Dual Special Education Certification

Students majoring in Middle Level Education with a concentration in Special Education PK-12 will complete the following courses in addition to the afore-cited Middle Level Education program requirements (not the course substitutions permitted):

• EDSP 226 – Special Education Methodology II with Field Experience (20 hours)
• EDSP 227 – Behavior Management with Field Experience (20 hours)
• EDSP 300 – Assessment in Special Education
• EDSP 302 – Special Education Methods (this course replaces the Middle Level ED 375—Middle Level Methods—and ED 380—Content Area Literacy—courses)

Special Education certification candidates will complete half their student teaching in a special education setting and half in a regular education setting.

Secondary Education Minor with Dual Special Education Certification

Students minoring in secondary education with a concentration in Special Education PK-12 will complete the following courses in addition to their specific program in the major:

• EDSP 226 - Special Education Methodology II with Field Experience (20 hours)
• EDSP 227 -Behavior Management with Field Experience (20 hours)  
• EDSP 300 - Assessment in Special Education
• EDSP 302 - Special Education Methods

Special Education certification candidates will complete half their student teaching in a special education setting and half in a regular education setting.

Thu, 23 Jun 2022 06:28:00 -0500 en text/html https://www.wilkes.edu/academics/school-of-education/special-education-certification.aspx