Today, Amazon announced acquiring Whole Foods,
and AMZN hit $1000/share. This continues their acquisitions of..... Everything!
Following is a re-post of my May 20, 2016 blog post.
I don't usually talk about my investments
cuz it's embarrassing if/when they go down, but I bought some AMZN stock, at a little under $700/share, after doing some research and talking to Nate while on vacation. I already knew that Carol just paid $99, like millions do, for Amazon Prime, and whenever we need something, rather than going to the mall or Walmart, we first go to Amazon. We just dropped our Netflix subscription for Amazon and they now have music to go, online. I like the looks of their chart, esp as I see see traditional retail getting killed in the market.
But, the final kicker was when I spoke with Nate, while on our Yellowstone trip, and learned his small division of DataLogix, pays Amazon over $1.2 mil/month, for cloud computing, and it's only going up.
Jeff Bezos has his fingers in everything, and I don't see it changing. As always, investing is a bet and there are lots of 'black swans' out there, but I like this bet, longterm. We'll see....