Even being generous and giving Amazon a future 20 pe ratio, at the recent highs, would require roughly $9 billion in profit. Once again being generous and assuming they can ever reach a 5% net income margin, they need $180+ billion in sales. Let's recalculate for a 15 pe ratio and 3.5% net income margin: $342 billion in sales (that's the Walmart scenario).
The stock has nowhere to go for a decade from the recent $400x levels. The party is over.
Even discarding all other revenue streams, you want to compare the company to a retailer growing sales at 1% y/y (WalMart), while they grow sales at 22%? All this while only being in 12 international markets and citing a lack of non-English content as holding them back in the high margin area of digital content.
Your evaluation seems entirely misguided and ham-handed to be honest.
I like Amazon, and also assume that they'll actually make money at some point, but the financial graveyard is filled to the brim with companies like this.
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When someone says "to make money" they do not mean to generate sales, they mean to generate profit. Amazon operates on a 1% operating income basis. They are unable to "make money" with their business as it's structured today.