Amazon’s management talks about it being early days in all of their businesses. That’s quite a statement for one of the world’s most valuable and exciting companies to make. Is this just a classic case of a growth stock trying to support its valuation multiple, or does Amazon still have enough runway? With performance well ahead of the Nasdaq-100 this year, Amazon has caught up some of the lost ground. Can it keep going?
It took Google 15 years to reach $100 billion in annual review. It then took just 6 years to triple it to $300 billion. But perhaps the most impressive statistic of all is that the company expects to end the 2024 financial year with an annualised run rate of $100 billion revenue in YouTube and Cloud combined, let alone Search. With growth of around 55% in the share price in the past 12 months, Alphabet has even outperformed Microsoft over that period. Perhaps Alphabet really is the old dog that can learn new tricks.
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