Amazon.com, Inc. (AMZN)

He believes in it. Was surprised by the quarter, namely AWS, the cloud. Ultimately, he likes their business model a lot, a hybrid of the consumer business and AWS. Trades at 30x forward PE, which some say is expensive. It would be a lot lower if they stopped their capex spending (on AI). There's no catalyst in immediate sight. If shares fall further, he will add.

It was coming into resistance and having a tough time leading to the report. Even if they had a great report, shares would have struggled around $206. MSFT had a monster report which raised the bar for cloud, so that's why Amazon is getting hit. He owns enough shares now, and won't add, but for someone entering, wait a few days for shares to settle.

Likes the whole AI play, it'll change the world. Biggest player in outsource infrastructure for computers; for example, SLF uses AMZN for its back office. Cheaper than the rest of the Mag 7. Buying opportunity and will catch up. AWS and advertising have much higher margins than the retail segment and are growing at a faster rate. No dividend.

Its earnings disappointed. Their AWS was the only area that you didn't expect to underperform; guidance and margins disappointed.

Yes, those earnings were disappointing. Still came ahead of what was expected, but not to the same tune as MSFT's or GOOG's. Just a matter of time before it ramps up again. Will continue spending on data centres, and this will pay off. 

Sees a parallel to Q2 earnings for MSFT last year. Azure disappointed, stock dropped ~10-15%. Since then, it's up ~25-30%. Same thing should happen to AMZN in about a year.

This is the one of the group that's going to do the best going forward. With an understanding of tariffs going forward, AMZN will price accordingly; so the e-commerce side of the business will be more refined and its outlook better. No dividend.

Great business. Has AWS, which is a huge piece of the business. Also direct-to-consumer, so that part continues to grow in this time of inflation. Valuation is not stretched, so he'd be looking at this one among the Mag 7.

He'd absolutely buy for a long-term hold. One of the 3 major players in cloud. E-commerce division is still a loss leader, but still such a draw and massive threat to rest of retail. Generating free cashflow, valuation has come down, lots of growth going forward. 

AWS is growing again, AI is taking share and their e-commerce is humming along. Firing on all cylinders. Like Uber, they are growing into their numbers (PE) after investing in their future.

Since mid-May this has formed a golden cross (the 50-day moving average crosses the 200-day) based on a solid uptrend. The MACD momentum line now shows a buy signal. Also, the Chaikin Money Flow (CMF) measures buying and selling pressure, and it's positive (the buyers haven't gone anywhere). Trading volumes remain strong. Prime Day is in full swing now, though Wall Street could be disappointed with sales numbers (he thinks it's too soon to tell). Lang targets $260-270, though he doubts that.

Cloud business is the growth driver, sort of subsidizing the retail operations. Retail margins are much lower, only mid-high single digits. Using automation to try to decrease cost of delivery. Prime memberships provide nice recurring revenue stream. Investing in AI, which will benefit retail. Very well run and focused. Hasn't fully recovered from fears of tariffs impacting volumes.

In her firm's growth equity fund. But the pullback is prompting her to consider it for segregated accounts.

He owns it for their data centre build. 

She is overweight and bought more. Retail stores can't find workers and suffer threat. So, Amazon becomes the only alternative in retail. Their retail business is getting another lift higher now.

This is almost a pure-play tech stock and not expensive at 34x forward PE. They are investing heavily in R&D and developing new businesses. Lessening tariffs in China is another plus. This is cheap now.

Trades at 34x forward PE, with 20% growth rate starting next year. Technicals are positive. Shares are above 200-day MA, which is trending higher. AWS growth is reaccelerating again. Automation is improving margins. Ads are high margin and boosting profitability. Prime membership is its ecosystem, and very powerful.