With a fourth straight record close day and a 5.7% rise in price during the increase, a strong e-commerce and cloud computing business, a $1.07 trillion valuation seems good. With a strong holiday quarter report, the company is the third most valuable company in the US behind Microsoft and Apple and just a step ahead of Google.
Moving
beyond its own expectations
The holiday quarter brought $3.3 billion in profits for the company, translating to $6.47 per share. Its quarterly sales hit a new record at $87.4 billion. Last year, the company’s holiday quarter sales were $72.38 billion with a profit of $6.04 per share. The company beat analyst expectations by a solid margin, who expected $86.03 billion in revenue and $4.04 profits per share. It would be troublesome to find the founder and CEO of a company sell $4.1 billion worth of stock in just 11 days. Filings with the Securities and Exchange Commission show that Jeff Bezos has sold the company’s stock. This selling is a part of a pre-arranged 10b5-1 trading plan. Bezos had previously announced that he would sell stock worth $1 billion each year to fund Blue Origins, his space exploration company. Overall, Bezos’ stock sale doesn’t ring any bells for the company.
