Thread by @DPogrebinsky

Overall thoughts on $amzn:
1) while aws growth missed little this q the backlog up to 50B (up 68%) implies acceleration
2) e-commerce internationally beat big & could be getting more entrenched there
3) $amzn on call said spent 48B in open last yr much of it on adding capacity

4) 2020 COVID costs were $11B, while these will continue as vaccine rolls out it will be less. Only guided to 2B this q
5) with COVID and investment costs of almost 60B last yr 2021 should be a much lower investment yr meaning EPS is about to beat big this yr and sky rocket imo

6) bezos is not stepping down or leaving as many clickbait articles would have u believe. He’s transitioning to exec chairman & as largest shareholder will still be heavily involved/in charge of new products which is where I’d want him to be, also this is happening in q3 not now

7) Aws chief becoming ceo is positive, in the age of digital acceleration the guy in charge of cloud this is exactly who u want to be in charge of $amzn going forward. He’s also been there almost as long as Bezos at 25 years so not a newbie and again Bezos still around

8) the blockbuster of the report was advertising revenues which increased 66% which was an acceleration from 50% last q which was an acceleration from 40% the quarter before. This will be as big as aws in two to three years and could overtake it ultimately with similar margins

9) summary: e-commerce still has plenty room to grow, aws will reaccelerate, advertising firing on all cylinders as a giant high margin category, anyone selling on Bezos news is making a mistake. $amzn has been basing longer than any other large cap and ready to power to 4K imo

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