With a trailing P/E of 186x, why shouldn't Amazon trade at $1000… as it opens its first brick-and-mortar bookstore in NYC. The surge above this historic price level means Bezos has gained over $19 billion year-to-date, but due to Microsoft's gains, he remains the world's second richest man behind Bill Gates.
The stock has skyrocketed as EPS expectations for 2017, 208, and 2019 have slumped…
It's been a wild ride…
We noted in March , as he surpassed Buffett to become the world's second richest man…
that Bezos needed AMZN to hit $1000 to become the world's richest man (but only if MSFT flatlined)… sadly for him, it has not…
He remains No.2…
We suspect this is him right now…
Finally, Amazon is not a bubble…
And in case you were wondering what was driving AMZN's success?
via http://ift.tt/2sakdX5 Tyler Durden