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Can we get out of this and look at Amazon plays back stock hit an all time high of 300 plus earlier this week 30496.
Today it's up 20% since April issue -- of more than tripled in five years.
Is -- on the new apple here is our resident tech -- his name is Clayton Morris joins us frequently played well for the program I see it all right.
I was on the new the new -- -- tech company the new apple.
I mean on its face -- two different companies right apple is a hardware company.
When Amazon makes hardware they sold at a loss when they make their candles they don't make any money off of their candles they want people to buy the books so from a purely.
Purely specific standpoint know they are not the same company apple make some money on iTunes and apps and they take some revenue from book sales and so forth.
But their main crux of their business is the hardware when they make an iPhone.
They are incredibly profitable Amazon yet.
He's still not profitable I don't know how they make money this is one of those companies that I love I use Amazon products all the time I just bought two books on my Kindle the other day.
I don't know how they make money they're not concerned about making revenue but -- -- make money they just -- old back into the operation right and -- they try to drive mom and pop shops out of business rights of the you can do you go into a market they they run small bookstores out of business.
And then they drive the price down on books to nine dollars and then they say now we -- the entire market -- books everyone kind of populist tea and I don't know I like my mom and pop bookstore.
I like going going to be a -- browse through books but when you see borders folding up as a result of -- not being able to compete with their own.
Barnes & Noble now suffering with the know -- They're going out of that you just a solid though that they -- user has benefited in that and by the way that's part of creative destruction they are mob -- stores.
We'll figure it out you know what I wanna specialized and it's one particular area because the space at best of what -- -- I'd still have.
Benefited from these lower people prices right when then authors find little incentive to go into writing and and actually putting out a book and only gonna make.
Less than a dollar per book because Amazon has sucked the profits out at 70%.
We'll probably has not been able Simon and use I've got a Kindle my wife tells me handle all the books on this thing and we do.
At half price not -- than the actual hardcover price and I go to -- -- a famous.
They would both right and I would argue that that that because digital goods -- certainly much cheaper to produce you don't have the trucks the infrastructure to haul these big books around the country absolutely.
I will say though I love Amazon on its face the Amazon with their cloud services.
Most of lot of businesses using their cloud infrastructure for syncing and and and server back end.
Certainly all the goods and services -- -- -- toilet paper around the country I buy everything on Amazon.
And -- anybody to camera lens I buy and on Amazon but you're not prepared to say that Amazon is one great tech company is going places is the world leader I will say it is a great tech company.
I'm just saying it's not apple tech company and I will say 'cause they're running up a couple of bookstores out of business Clayton Morris says I'm not sure about if they can make -- Kindle that makes them money if they're suddenly say we've got this we've got this new.
That is beautiful gorgeous and it's making us.
Huge profit margins on every every piece of hardware we sell and if this Amazon phone this purported Amazon phone that we've been hearing so much about becomes.
A bit of a profit center for them and they start to challenge apple on hardware the -- that Samsung has.
Then I will grant you that I just think it's a different ballgame ash over the stock again please -- has -- a -- that's really good.
The -- -- -- show it -- 305.
Dollars a -- tripled in five is up 20% since April thank you for your time Clinton.
What if -- 25 in back from 39.
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