It Took Amazon 17 Years To Pocket What Walmart Earns Every Seven Weeks

About 17 years ago, an analyst named Henry Blodget estimated Amazon’s stock price would soon be at or over $400. Since that prediction was made in 1998 and a year and a half later Amazon and the rest of the emerging eCommerce market were fighting to stay alive in the wake of the dot-com bubble bursting, the Blodget prediction was taken as shorthand for irrational market enthusiasm.

Today, Amazon’s share price is $492 — though factoring in inflation and stock splits, The Wall Street Journal noted, in 1998 terms Amazon’s stock price is worth $3,000 per share. If the stock price gets much above the $500 predicted if the earnings call lives up to analyst expectations — to $509 — Amazon’s market value will pass Walmart’s.

And if that doesn’t amaze you, it should. Since Blodget famously went out on that limb, Amazon has raked in a cumulative $2 billion. A very impressive number, but it’s even more impressive if that is what one rakes in every seven weeks, as opposed to every 17 years.

Guess how long it takes Walmart to pocket $2 billion?

Which, according to WSJ, is why Amazon is basically a blind investment for the high flyers buying in — Amazon is not all about reporting its figures past the highlights.

For example, we know Prime Day succeeded, we know a lot of Bose headphones were sold and we know it blew past Black Friday. We don’t know how much overall was sold, what kind of losses Amazon took on the merchandise and if the event surpassed the tougher benchmark of Cyber Monday.

So is Amazon killing it? Probably, but few are sure. Is Amazon worth more than Walmart? Perhaps, but that would be a much tougher sale.

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