Amazon took a hit today, 10/25/2011 (trust, income, stock, purchase)
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Amazon took a hit today on reported lower profits, which the company said were due to the intro of its Kindle Fire device.
So what do you think:
- Is the bloom finally off this company / stock?
- Is this just a blip in the life of Amazon?
I've been disappointed lately about my orders with Amazon; they couldn't ship a simple book order after weeks of waiting so I cancelled, another order they farmed out to some place in Massachusetts that seems to be an Amazon wannabe / copycat warehouser.
My take at this point is that today's hit on the stock was probably just a speed bump due to the intro of the new device, but I'm no longer sure that Amazon is paying attention to the core business that made it such a household name.
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I think the whole sector is dealing with lower profits either now or future outlook at least for the next quarter. IBM was last weeks victim, then AAPL, now Netflix and Amazon.
Google was the only expectation. I don't think it makes the companies a wash. It just means that it may be a time to buy low and sell high or hold the stock. These are good companies that will have hiccups every now and then but don't count them out just yet. They are constantly revamping their products and adding new ones. I don't include Netflix in that statement but some believe that Netflix is a buy when it hits $50-$70 since it was way over priced.
Tune in to some of the conference call, look at PE ratios, dig into the history on earning. Basically, research the company that you think can be trusted to be honest with their shareholders.
Mike, this is a blip. Amazon is a strong company. Their online retail framework is a powerhouse and industry leader
This quarter, everyone in NASDAQ is gonna post reduced earnings, coz that's the direction of the economy. Today's consumer index data came out and sentiment was negative. More bad earnings will follow. It's got nothing to do with Amazon's strategy, it's broader earnings erosion
From what I hear, AMZN is the leader in what it does. One of the big reason many brick and mortar stores are going under. I think there is still plenty of bloom.
As states look for more income, Amazon will continue to lose fights in those states. It's starting soon to have to pay sales tax in one state, with several more to follow. Plus it had to make some deals to set up distribution centers in at least one of those states.
Between the extra expenses and the extra work/costs of dealing with various state sales taxes, Amazon will take a big hit in the next year to two years.
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