A company plans to modernize a monolithic application by breaking it into microservices and deploying those services on AWS. Which migration strategy describes this approach?

Refactor (or Re-architect) is the correct strategy because it involves fundamentally changing the application's architecture, such as breaking a monolithic application into microservices. This approach often entails significant code changes to take full advantage of cloud-native features and improve agility and scalability. Rehost (lift-and-shift) involves moving an application to the cloud without significant changes. Repurchase means replacing an existing application with a cloud-native SaaS solution. Replatform (lift-tinker-and-shift) involves making some cloud optimizations without changing the core architecture, like migrating a database to a managed service. These options do not describe the fundamental architectural change of breaking a monolith into microservices.