Apple wasn’t the only stock to hit an all time high (of $403) last night. Amazon also rose to an all time high of $225 in after hours trading after announcing a 51% increase in revenue to $9.91b in the quarter ending 30th June 11. Amazon is another excellent example of our ‘Diversity of Performance’ theme. As conventional retailers (and the economy in general) struggle, Amazon just pounds ahead – even showing a clean pair of heels to its online rivals like eBay.
There is now white hot speculation that Amazon will release an all-singing, all-dancing version of its best selling Kindle later this year. Ie one able to play music and films as well as display newspapers and magazines. I must admit that the Kindle is much better for book reading than the iPad. And a lot cheaper! So I could see that an expanded capability Kindle could be a winner.
We are, of course, ever interested in Amazon Web Services (AWS). Amazon is rather coy about its performance – crowing only of new deals with SAP and Oracle. However, the ‘Other’ line in Amazon’s accounts, which includes AWS amongst ‘other’ stuff, nearly doubled from $176m to $325m.
Note - I am a very happy long term shareholder in both Apple and Amazon.