Brick and mortar ain't catching up, primarily because it should not try to play catch-up. Innovate, don't imitate.
(Enter writer's transitional crutch here)
But, I digress ...
I have to give more credit to that Morgan upgrade. They get Amazon. Outside of international (also from Gara's story) the house sees ...
a slow ramp up of other Jeff Bezos growth projects as a catalyst to near-term earnings. Notably ... strong Apple iPad and iPhone sales could benefit Amazon.
While investors oftentimes lament Amazon's spending plans, [Morgan Stanley] sees international e-commerce efforts as paying off over the long term, as consumer retail markets open up on the Web.
Spot on. And spot on.
Amazon and Apple are partners, not competitors
. And Amazon's spending drives performance, in China, elsewhere internationally and at home.
As of this writing, AMZN is up to around $266. New highs. On Dec. 18 I said
it's headed to $300
. Don't look now, but it's well on its way. With solid earnings later this month, it's in the bag. Even if Amazon missed, the stock, like it always does, will rebound.
People, like TheStreet's Jim Cramer, love Jeff Bezos
. As they should.
Sometimes, sanity -- even at astronomical P/E ratios (!) -- does prevail.
--Written by Rocco Pendola in Santa Monica, Calif.