04-26-2011, 06:41 PM
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#4
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Banned
Posts: 1,644
Karma: 213512
Join Date: Oct 2010
Location: On the other side of over there
Device: Pandigital Novel, Kindle G1 (broken), iPod Touch
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Quote:
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Shares of Amazon.com Inc. turned higher Tuesday, fighting earlier losses after the online retailer’s quarterly earnings missed Wall Street’s projection...
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Quote:
"The concern that people had, that they were going to spend more than the Street was expecting, happened," said Ken Sena, analyst at Evercore Partners. "But when you look at the kind of growth acceleration they are showing on the top line and surpassing pretty much all Street expectations, I think that clearly what they are doing makes sense."
The company has been willing to sacrifice some profitability to win customers and build its new businesses. It has invested heavily in areas such as "cloud computing" -- which allows companies to store data on its servers -- to take on its rivals Google Inc and Apple Inc.
Amazon is also laying out money to open new distribution centers and cement its lead as the world's largest online retailer.
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Buy stock now.
http://www.reuters.com/article/2011/...73P6HV20110426
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