Amazon shares are down but it wasn't a bad quarter, says Josh Brown

Published: Apr 28, 2022 Duration: 00:04:05 Category: News & Politics

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Amazon shares are down RIGHT? THAT'S THE PERSPECTIVE IF IT IS NOT GOOD ENOUGH AT THIS POINT FOR BUFFETT AND COMPANY, WHO IS IT GOOD FOR YOU DON'T SEE AMAZON DOWN $400 IN A SESSION >> WORST DAY FOR AMAZON. WORST INDIVIDUAL DAY FOR AMAZON SINCE 2011 WE'RE GOING TO TALK MORE ABOUT IT LATER THIS IS NOT A BAD QUARTER. THE PROBLEM IS IT IS NORMALIZATION OF THE TYPICAL GROWTH RATE BACK TO 2019, EARLY 2020 PRIOR TO THE PANDEMIC BUT THAT'S, THE MARKET, YOU'RE TALKING PEOPLE THAT HAVE THE ATTENTION SPAN, THEY'RE ON TWITTER, CAN'T THINK STRAIGHT. IF YOU THINK ABOUT WHAT'S GOING ON AT AMAZON, CLOUD GROWTH IS ALMOST 40% THAT'S THE GROWTH BUSINESS, NOT GROCERIES. HOW DO YOU NOT UNDERSTAND THAT >> THE PROBLEM IS, SPEAKING OF CLOUD DOC, YOU OWN THE STOCK, AWS WAS 40% GROWTH LAST QUARTER AND IT IS STILL ROBUST Is Amazon a buy OBVIOUSLY. LOOK, 36% GROWTH THAT'S NOT 40 THOUGH SO YOU HAVE CONCERNS THINGS ARE SLOWING EVEN ON THE MARGINS. JON NAJARIAN, GIVE ME YOUR PERSPECTIVE. IS THIS A NO BRAINER BUY ON SHARES OF AMAZON HAVING A HISTORIC PULL BACK >> I THINK IT WILL BE A NO BRAINER PULL BACK NEXT WEEK, SCOTT. I DON'T THINK IT IS A NO BRAINER PULL BACK TODAY. I HOPE I'M WRONG I OWN AMAZON I HAVE WRITTEN CALLS AGAINST IT. THEY ARE NOT SAVING MY BACON TODAY BECAUSE OBVIOUSLY THERE WEREN'T CALLS AVAILABLE TO ME, SCOTT, OTHER THAN DEEP IN MONEY CALLS THAT COULD HAVE OFFSET A 300 POINT DECLINE IN THE STOCK, WHICH IS WHAT WE HAVE SEEN TODAY. I THINK THAT PROBABLY GETS A LITTLE WORSE NEXT WEEK I LIKE WHAT JOSH SAID ABOUT POTENTIAL THAT WARREN'S TEAM BECAUSE IT WAS NEVER OF COURSE WARREN BUFFETT THAT GOT INTO APPLE, HIS TEAM PUSHED HIM INTO APPLE, AND THEY MAY BE BASICALLY IN A MEETING RIGHT NOW MAKING A SIMILAR PITCH ABOUT AMAZON >> REST ASSURED, THEY WOULDN'T BE IN APPLE TO THE MAGNITUDE OF WHICH THEY ARE WITHOUT THE KING, RIGHT? Amazons moat I KNOW, IT IS HIS TEAM AND ALL THIS AND THAT, WE DON'T KNOW THAT FOR SURE. THEY WOULDN'T BE -- >> WE DO KNOW THAT FOR SURE. HE HAS SAID THAT >> YEAH, BUT THEY WOULDN'T CONTINUE -- >> JUDGE, CHARLIE MUNGER IS BUYING ALI BABA ON MARGIN. THEY'RE A LITTLE GUTSIER GEICO WAS PRETTY MUCH A PENNY STOCK WHEN THEY STARTED TO ESTABLISH THEIR POSITION AMEX WAS THE FIN TECH OF ITS DAY. REVOLUTIONARY WHEN BUFFETT STARTED BUYING INTO THAT JUST LOOK AT THE COMPANIES NOW, OLD, STOJY BRANDS, BUT THEY LOVE BUSINESSES LIKE THIS AMAZON RAISED ITS PRIME MEMBERSHIP RATE FROM 119 TO 139 THIS YEAR. THERE WAS A RECENT SURVEY OF PRIME MEMBERS. 98% OF CURRENT PRIME MEMBERS SAID THEY'RE GOING TO REUP TELL ME HOW THAT IS NOT A CLASSIC BERKSHIRE HATHAWAY BUSINESS THAT'S LITERALLY THE RECURRING BUSINESS, EVERYTHING THEY LOOK FOR. THE REASON IT IS SO OBVIOUS TO ME THERE ARE VERY FEW STOCKS CAN MOVE THE NEEDLE AT BERKSHIRE IT IS HUNDREDS AND HUNDREDS OF BILLIONS OF DOLLARS IN THE STOCK PORTFOLIO, 150 BILLIONISH IN CASH NOW THERE'S ALMOST NOTHING THEY CAN BUY THAT WOULD MATTER. AMAZON IS BIG ENOUGH WHERE THEY COULD TAKE A POSITION WITHOUT TAKING OVER THE WHOLE COMPANY AND IT WOULD MATTER. I DON'T KNOW IT IS ALL SPECULATION. I'M SAYING THIS IS THE KIND OF ST

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