Anaylsts at Macquarie Capital thin Amazon Web Services (AWS) is bigger and more profitable than many observers give it credit for. In a research note published today, the firm indicates that AWS could currently be worth $19 billion to $30 billion as a standalone entity, based on a 5X or 8X multiple of its 2013 AWS revenue estimate. What’s more, Macquarie projects AWS will claim a $38 billion slice of its forecasted $71 billion overall cloud market in 2015 by on-boarding larger enterprises and gaining more traction in emerging markets. [Source: GigaOM]