Down 10%?
That's right, Amazon (AMZN) is down about 10% from that big post-market spike it took to 3,650 on 4/29 on the release of their earnings. Despite earning $27Bn in the past 12 months (through 3/31) it's hard to rationally support a market cap of $1.85Bn at 3,600 as that's 68 time those earnings and those earnings came in a year which was perfecft for Amazon, with everyone staying home (with Government checks) and ordering on-line for an entire year. In all likelihood, this may simply be as good as it gets for AMZN.
Expectations for 2021 are for another $27Bn to be put in the books at AMZN but I'm betting they miss those targets as people begin going outside again in the second half of the year. Whatever the case, it's all about trade-offs and sales at AMZN's Whole Foods were off 16% last year – despite the fact that people still eat food. In fact, had not Prime Moved up to a record 200M Members in 2020 – AMZN would not have had an earnings beat at all as
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