A New High For Amazon Stock: Could it Mean Another Money-Losing Gadget?
Amazon (AMZN), that internet retailer of mystery, sent out a cryptic invitation last week to reporters, inviting them to a press conference on September 6 in a Santa Monica event space. Oh, whatever could this be?
Just the suggestion of something coming down the pike was enough to help send the stock to a new all-time high.
The Wall Street Journal speculates that Amazon could be inviting reporters to L.A. because it may have to do with Jeff Bezos’ Hollywood-type aspirations to develop content.
Or Amazon could be about to roll out some kind of update to its Kindle Fire, which was released last fall. It’s getting its butt-kicked by Apple’s (AAPL) iPad –- plus each Kindle Fire loses money.
Whatever’s coming, let’s be charitable and hope it can do something about this.
AMZN Profit Margin data by YCharts
We wait with bated breath.
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