Amazon is really getting hit from both sides. The business environment, especially in the United States, is very, very competitive.
More Quotes from Scott Devitt:
Ebay is really fighting for China but there are two entrenched players there already. So eBay had to invest more in China to compete more aggressively for market share.Scott Devitt
eBay is a company that understands network effects better than any other, ... Its core business, as well as (online payment system) Pay Pal, have been created and have succeeded by this network effect as more users come in, the marketplace grows in value.
Scott Devitt
In our opinion, it's not time to become a holder yet, but certainly the shares are more attractive in the mid-300s than the mid-400's.
Scott Devitt
These businesses are not meant to be managed on a quarterly basis but people take quarterly results and extrapolate them to come up with a long-term value for the stocks. You have to look at them with time horizons of two or three years, not two or three months.
Scott Devitt
We found Amazon results to be mixed and we believe the shares could be weak through the springsummer months.
Scott Devitt
Consumers start out with books and as they become more comfortable buying on the Internet, they climb the average selling price ladder. Before you know it, theyre buying expensive jewelry on the Internet.
Scott Devitt
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