Remember when Amazon.com was the internet darling everyone was drooling over? When actual profits mattered instead of projected profits and when there were experienced business people setting up these businesses instead of the 19 year olds setting up community sites.
I’m sure you’ve heard about facebook’s valuation of multiple billions of dollars. I’m sure you’ve heard (probably from me) the overwhelming success that is going on at Apple.com. Well, Amazon.com has had one of their most successful years since the dot com bust with their shares almost tripling in value over the course of 2007.
I just read the post over at TechCrunch and it’s amazing to hear the numbers Amazon just released:
- Sold a Wii every 17 seconds when it was in stock
- 35% increase from last year’s peak sales day ( aren’t we suppose to be in an economic slowdown?)
- New Kwindle Book Reader coming in at No. 2 in Electronic Sales (I call BS, but that’s just me)
And now, 2008 is coming up and they are rumored to have their online music store running pretty smoothly. If that happens and they can undercut Cupertino’s 99ct pricing structure, we got a pretty competitive marketing when you also include Walmart’s online music store. No matter though, competition breeds innovation and the people who truly benefit from all this is the consumers.
Last time, I recommended you buy Apple at $163 and now it’s at $198 . . . can I go 2 for 2 and say . . Amazon’s at $93 right now . . . it might be time you include them in your 2008 portfolio.
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Well, if the rumors are indeed true, (I think there is a distinct possibility), the consumers are in for a real treat. I think it’s nice to see competitors outdoing each other because in the process, they give better service to the consumers.
Good recommendation on Amazon..I had it when it was $40, and of course sold thinking they were in the dumps..May be time to pick some up again.