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, the stock is running. Jim, we talked about Amazon last week. I guess Morgan Stanley was listening to us because we were saying how much more the stock could do, and it continues to go higher. Is it running too far now? I mean they put a price of $325.
Look, I think Amazon is a stock that has kept everyone skeptical. The reason is because they don't really have...on a price turning multiple - it's okay. But when you decide that you want to take over a core business, which is the fulfillment for everybody else who's trying to do online only
(EBAY - Get Report)
is a competitor. Then you see why they've spent so much money building these warehouses everywhere. They're putting in fulfillment for not just themselves but for a lot of other companies. So, what this was a focus on, this deal was a focus on how they are the backbone for all internet shopping.
Now, we talked last week about how it looks like that they've really crushed the
. Also, Amazon Prime represents such a great value. There had been a thought that when sales taxes were to go up statewide in many states that that would hurt Amazon, apparently it hasn't. Amazon could be a beneficiary of a lot of the bad weather that we had in that people shopped and they didn't go to stores. There's so many ways to win here, Debra. I agree with the call. I think there's still momentum there.
You think $325 is not an outlandish number?
No, I don't. Now, it's the only stock that I use without looking at the P/E multiple. I've done that because they're the only company I know where a dollar in will - I think, yield a lot more than a dollar. This nationwide build out of warehouses is so brilliant. They've also gotten a lot of state breaks to do it. Jeff Bezos is Sam Walton, he is the Sam Walton of our time and I'm in awe of him.
--Written by Debra Borchardt in New York.
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