CNBC’s Jon Fortt and BuzzFeed’s Jon Steinberg discuss in the following video a very-well done research note out from an analyst at Bernstein that questions the price of Amazon (AMZN)’s stock. According to the research, which points out Amazon’s fundamental and structural advantages in its retail and cloud infrastructure, AMZN at $370 is still inexpensive. The note suggests that the ticker’s price to next-12-months gross profit yields a valuation of $484 a share.
Amazon shares were down by $2.74, or 0.70%, at $369.50 on Monday. Trading at a multiple of 625X fiscal 2014 earnings estimates (yep, you read that right), and more than 87X fiscal 2015 forecasts, AMZN has a market cap of $170 billion.