By Harry Dent
Amazon is the best of this bubble, and in some ways the worst!
Yet again, it’ll pay zero taxes to the IRS for 2018!
No taxes on sales of $233 billion and profits of $10.8 billion last year.
Not a dime.
This is just wrong.
And it’s one of many things that are wrong with this bubble!
I just had to record a video to talk to you about it.
One of the most prominent companies of the current bull market bubble, Harry takes a look at Amazon, why they represent one of the biggest problems with this bubble, and why you should watch the e-commerce giant so closely…Harry still sees great opportunities in the stock market, but for only a limited window of time he talks about here: bit.ly/2Uerdzt
Posted by Economy and Markets on Tuesday, February 19, 2019
Amazon got up to a $1 trillion valuation at its peak in 2017. At that time, it was 5.6x sales. That’s crazy. A normal valuation is 1x, maybe 2x for a growth company.
So, we’ve got companies making record profits and enjoying tax cuts. AND they’ve had a QE tailwind for years…
All of which they’ve used to buy back their own stocks.
Yeah! That’s a recipe for trouble.
First though, they’ll present Dark Window profit opportunity this year!
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