While all the other bell weather tech stocks see profits soar, Amazon is looking like a mature company now- and perhaps all shareholders can look forward to is single digit growth.
In fact profit in the last quarter was actually down 44% to $30mn. In fairness, this was largely due to a one off $40mn settlement of a patent infringement legal suit and sales were up 27%, but Amazon seems to be employing similar tricks to its High Street cousins - special prices for example. At the same time it has offered free delivery costs on items costing more than $25. or £15 in the UK, but, even so, in a quarter which saw the company sell 1.5millin copies of the new Harry Potter book in advance orders alone- Amazon is beginning to look like a middle lane tech.
Compared to the likes of Google, Apple, Yahoo and eBay there seems to be a lack of a big idea- maybe, the company is approaching its natural limit - after all how far can you take book selling?
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