Hating Amazon Is Not Only Stupid, It's Anti-American
First, the obvious. Nearly every quarter the same thing happens with Amazon.com
AMZN tends to retrace old highs after a considerable price decrease.
That's been my mantra for what feels like ages. And everything about it -- as recorded in the above-cited article -- went off just as described. Right down to the admission that AMZN recovered to lower highs for a while, but, over the long term, that pattern would change. Now the stock hits all-time highs as hobby.
I called AMZN's rise to and through $300 and stand by the prediction that Amazon will pass Apple
TheStreet's Chris Ciaccia wrote an excellent article where he chided Amazon for the information -- or lack thereof -- they provide on their earnings conference call. While I disagree with every word Chris wrote, I can call it an excellent article because he articulated his position well and took a perfectly snarky approach that kept me reading to the very last word.
That said, Chris is one of the people I don't understand.
Even if he and other bears are right about Amazon ( they're not! ), you'll never win fighting reality no matter how irrational you think it is. See my decision to tout Netflix
Quite quickly, comparisons between AMZN and NFLX fall apart. AMZN is a healthy company with not only massive, but obtainable long-term opportunity; NFLX is not. On the surface, however, you can't bet against either stock. However, AMZN will not crash; NFLX will.
Which leads to point number two I just can't comprehend about some people.
How can anybody hate -- or even dislike -- Amazon?
Jeff Bezos runs the sort of company the country ought to rally behind. Yet we see sentiment like this from people:
Right. Punish Bezos and Amazon for having the foresight -- about a decade before everybody else -- to go pure play e-commerce. We should be rewarding Amazon's innovation, not finding ways to deter it.
From its beginnings to the incredible point Amazon is at now and -- amazingly -- will pass, this company epitomizes everything we apparently love about American capitalism. Amazon generates massive amounts of revenue and uses it to expand its business in multiple logical directions. Why would anybody root against one of the few companies that doesn't bitch about political and economic environments and spends to get things done?