When Jeff Bezos founded Amazon.com, Inc. (NASDAQ:AMZN) back on July 5, 1994 to sell books online, he had a much bigger goal in mind that no one else could see.
Mr. Bezos named his fledgling e-commerce company Amazon after the river and for good reason.
The Amazon River is the largest river in the world and it dwarfs the water output of the next seven largest rivers combined! That was Jeff Bezos's ambition... to dwarf every other company in the world and so far he is succeeding.
I imagine that Sam Walton, the genius who created Walmart, was an inspirational role model for Mr. Bezos. Yesterday, Amazon surpassed Walmart in sales - no small feat given the fact that Walmart has been around since Sam Walton founded this company in 1962, over half a century ago! Like Sam Walton, Jeff Bezos took a similar approach to retailing - to make products readily available at better prices than anybody else. Somewhere down the line, I would not be surprised to see Amazon open up brick and mortar stores.
Like the river, I think Amazon is only going to get bigger and get more customers to buy into its Prime free shipping service. As its customer base increases, could we see Amazon purchase or start its own delivery service?
The Trade Triangle technology has been long and bullish on Amazon since January 30th of this year at $341.26. I mentioned in my blog post this past Wednesday that Amazon would soon be moving over $500. I did not expect to see that happen in such a dramatic fashion, but it did with yesterday's earnings beat.
I think the only thing that could be a fly in the ointment for Amazon would be an some sort of antitrust suit. You may remember a while back that Jeff Bezos purchased the Washington Post, the leading political newspaper in the US and a powerhouse of opinion on Capital Hill. By making this strategic purchase, Jeff has hedged his bet as he now has a lot of his own power over politicians and what they think or do.
Just how high can Amazon.com, Inc. (NASDAQ:AMZN) go? The truth is, no one knows for sure, but you don't step in front of a speeding train asking it to stop.
It's Friday and I'll also be looking for 52-week new highs on Friday and recapping the week's market action.
Thank you for all of your feedback this past week, I do appreciate your thoughts and comments.
Have a great weekend everyone!
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