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Henry Blodget’s Bullish Amazon View

Thursday, 3 Jan 2013 | 12:56 PM ET
Blodget's Bullish Long-Term View on Amazon
Amazon.com has a few strengths that make it a long-term investment, Business Insider's Henry Blodget says.

Amazon.com has a few strengths that make it a long-term investment, Business Insider's Henry Blodget said Thursday on CNBC.

On "Fast Money," Blodget was positive on Apple, Amazon, Facebook and Google.

"Fundamentally, they're all in very good shape. Apple's still early in all of its big markets. Amazon rules commerce. There's no question that everything is going that way. Google's in a great position in search, and they're doing a good job with Android and so forth, so everybody there's in a good position," he said. "The stocks are a different story."

While valuations of stocks such as Microsoft and Amazon might appear high when picking investments, Blodget was a believer in Amazon.com CEO Jeff Bezos.

"The reason that Amazon is where it is is because he has been able to tune out Wall Street for 15 years, say we are going to invest for the long haul," he said. "It's too bad more American companies don't do that."

Blodget praised the company's reinvestment in its business, as well as its acquisitions, which bodes well for a long-term investment in the online retailer.

"I don't care if the Street suddenly wakes up one morning and says, 'You know what? We're tired of 145x P/E. we're out of here for 10 years,'" he said. "They're wonderfully positioned."

Trader disclosure: On Jan. 3, 2013, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Josh Brown is long AAPL; Josh Brown is long JPM; Josh Brown is long WFC; Josh Brown is long GDX; Josh Brown is long GLD; Josh Brown is long XLU; Josh Brown is long TLT; Josh Brown is long XLF; Josh Brown is long WMT; Josh Brown is long TGT; Josh Brown is long SBUX; Josh Brown is long QCOM; Josh Brown is long MRK; Stephanie Link is long AAPL; Stephanie Link is long AIG; Stephanie Link is long WFC; Stephanie Link is long WY; Simon Baker is funds long IWM; Simon Baker is funds long AAPL; Simon Baker is funds long AMAT; Simon Baker is funds long BAC; Simon Baker is funds long BRCM; Simon Baker is funds long T; Simon Baker is funds long WFC; Simon Baker is funds long QCOM; Simon Baker is funds long MSFT; Simon Baker is funds long GOOG; Simon Baker is funds long CSCO; Simon Baker is funds long XLU; Simon Baker is funds long NOK;

For Henry Blodgett
Disclosure: Henry is an investor in Business Insider. He owns options and/or shares in Yahoo, eBay, Baidu, Amazon, Spark Networks, Microsoft, Bank of America, Gartner Group, Time Warner, and other companies, along with various equity and bond index funds. He does not trade frequently.


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