Experience Stern | News & Events

Excerpt from CNBC -- "I think the pathway for Amazon to be worth 700 is there. But it's a very narrow one. I've always called Amazon a 'field of dreams' company, which is if you build it, they will come--the building being the revenues and the profits. And I think what they've had going for them, they've always had that consistent story, which is we're going to go for revenues first and we'll get profits later. So it's built on that trust, and I don't think they can deliver the margins you would need to get to this 700. So that's the basis for my valuation."

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Additional coverage appeared on Yahoo Finance.