Amazon: For me, the trillion-dollar opportunity clearly outweighs the capex risk

For Amazon (i), I remain bullish unchanged. Yes, free cash flow is suffering due to investments and was negative at $42.4 billion last quarter. And if Amazon plans to invest "significantly more" after $220 billion in capex in the coming year, I even consider an amount approaching $300 billion possible. That’s my estimate, not the company’s forecast. For me, the opportunity outweighs the risks. AWS is firing on all cylinders AWS grew by 39.3% in the third quarter to $46 billion – the fastest growth in nearly five years. The order backlog...