On Thursday, Amazon reported a loss of 95 cents per share, compared with a loss of 9 cents per share in the year-earlier period. It also projected weaker-than-expected sales for the holiday quarter. Shares sank on the news, with one pro predicting Amazon shares would lose more than half its value.
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"I really think … it's on its way toward $100 a share," Bob Olstein, chairman and CIO of Olstein Capital management, told "Closing Bell" Friday.
"Jeff Bezos was very, very clear from early on. He said he is not interested in a foreseeable profitable company for some time," he said. "I don't understand why the Street, why analysts, why the bankers out there are shocked by a lot of the swings here," he argued.
Plus, Zoldan said Amazon is doing a lot of enterprise work outside the retail space.
"They're producing data farms, they're investing a lot in expansion in terms of warehousing also, and owning the B to B customer."
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As for comparisons to Chinese e-commerce giant Alibaba, which is spending money but is also profitable, Zoldan said the Chinese market is "very, very different from the U.S. market."
"I think that Alibaba's entrance into the U.S. market is actually going to help Amazon not hurt Amazon, and I definitely see some potential partnership down the road."
Disclosure: Zoldan and his family own Amazon.
—CNBC's Everett Rosenfeld contributed to this report.