January 8, 2013

Amazon: Tech's Only Unstoppable Monster

Tim Carmody, The Verge


AP Photo

On Monday, Amazon briefly broke its all-time record share price on the NASDAQ exchange, hitting a high of $269.30, and closing at $268.51. The company now has a market valuation of a shade under $121 billion; that's roughly half a Google, twice a Facebook, or 44 Netflixes. This is despite most other big tech stocks like Apple or Google being down or flat on the day (with the exception of Netflix, which briefly broke $100 again on some good news). It's also despite Amazon losing $274 million last quarter, giving Amazon a ridiculous price to earnings ratio of 3569.50 over the last four quarters. In short, all the traditional metrics are telling Wall Street to run away. Instead, traders are snapping up Amazon stock like cab rides on New Year's Eve.

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TAGGED: Amazon

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