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Technology Stocks : Amazon.com, Inc. (AMZN)
AMZN 206.17-7.3%2:09 PM EST
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To: Rob S. who wrote (79781)10/6/1999 1:23:00 PM
From: Eric Wells  Read Replies (2) of 164685
 
>>growth is still todays' mantra.

Rob - how long does growth remain today's mantra? And when does tomorrow get here and we start talking about profitability?

I thought a couple of year's ago, Amazon was saying they were going to be profitable this year - or at least by this year we would start to see a decline in losses? But instead, losses continue to escalate - at about the same pace that AMZN's stock price increases. (by the way, check out the profitability forecast chart in Gleen Rudolph's profile)

So the key question that I and others on this thread have asked so many times is: when will Amazon be profitable? No one seems to know. And what is more alarming is that no one seems to care.

I agree that there is a good chance that Amazon probably will be profitable some day. But I would say that there is also a very good chance that Amazon's profitability will be limited - and will not come anywhere close to the optimistic forecasts that are currently holding up the stock.

What will happen if Amazon's stock price does collapse one day. Will Bezos, Blodget and Meeker issue a joint public apology? Will Amazon insiders that have already cashed in for millions return those dollars to investors that are left holding worthless stock certificates? Not likely.

Our economy is being driven by a market that is heavily reliant on greater fools. Eventually the fools are going to get smart and start realizing that things such as profitability - or even forecasts on profitability - are important.

Thanks,
-Eric
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