Today's Topic: Amazon.com's Earnings Report
Stimulating stuff, I know....but I can be kind of a geek with my stocks. And AMZN was one of the first stocks I had ever bought, and luckily sold back in 2001 at a large profit. I have been known to utter "Jeff Bezos is a god" on several occasions, and I utter it yet again today.
AMZN crushed the earnings estimates and in a time period where even Wal-Mart is facing a slowdown, AMZN was able to see a stunning increase in revenue. What shocked me, though, is why. According to the earnings report, the sales of Kindle fueled a good percentage of revenue. When AMZN first released Kindle, the hand held electronic book reader, I thought "Boy, even though Jeff Bezos is a god, this is one dumb idea." Why would one want to read a book using an electronic device. If I'm going to go through the work of reading, why wouldn't I just use the book. Wouldn't it be difficult to read "War and Peace" on a handheld electronic screen?
I still feel the same way about Kindle, and I still feel the same way about Jeff Bezos. He is a god - he is making a boat load of profits off of a product that an avid reader and lover of books just cannot understand. And that perhaps is the biggest reason why Jeff Bezos is a god...because he figured out a way to sell books to non-afficionados.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment