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Amazon All About the Ladies

Stocks in this article: AMZN

Games are another media type, and the Fire has more simple games integration. But it adds a mom-friendly feature called FreeTime, which lets you give a Fire to your child but limit how much time they can spend with it. Now pull out your iPad and do your homework, kid. (Awww, mom!)

The specs are there, but they're not the issue. There was no mention of the browser, but who cares about the Internet when Amazon is your only destination? Whether a media tablet is faster than an iPad is less relevant than the fact you have a shopping mall in your hand, a book to read on the train, a movie to watch on the plane, and price comparisons at the store.

All through the press conference reporters argued about whether Amazon can make money with prices ranging from $69 for a slightly-updated Kindle with ads to $199 for a new Fire without.

At the risk of angering all the Amazon bears I meet on investment boards, that too is not the point, my friend. The point is growth, the point is securing customers in a bearhug tighter than even Walmart (WMT) can give them. If you're not putting every dollar that comes in back into growth, Bezos figures, it's wasted money.

As the press conference went on the price of AMZN bounced between a low of $250 a share and a high of $252.44 -- the last, an all-time high. That's an earnings multiple of over 300.

Revenue has doubled between 2009 and 2011, and you're looking at another big jump in 2012. All that money is going back into sustaining those sales and growing them further.

Growth is the point. Loyalty among women, the hands the hold the pursestrings, is the point. Just as growing its cloud into a network and expanding that network globally is Bezos' point.

Will that point sustain the stock? Stay tuned.

At the time of publication, Blankenhorn owned no shares in the stocks mentioned here.

This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.

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