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Japanese designer Undercover posted on its Instagram account a photo of protesters with the slogan "no extradition to China," the Financial Times reported.China Politicsread more
Powell stresses the central bank's independence in a speech that comes amid continuous pressure from the White House to cut interest rates.The Fedread more
Stocks in Asia were tepid on Wednesday afternoon after U.S. Federal Reserve Chairman Jerome Powell tempered expectations for a potential interest rate cut.Asia Marketsread more
The purchase confirms Apple's continued interest in self-driving car software, and it will bolster Apple's engineering ranks with additional employees who can build autonomous...Technologyread more
Amazon may be worth $429.5 billion today, according to FactSet. But the company's never-ending supply of customers could eventually grow it to a $1 trillion company, said venture capitalist Gene Munster.
"When you look at the markets they are going after, it's easy to understand how this could be a trillion-dollar company," Munster told CNBC's "Closing Bell " on Friday.
But Munster said that Amazon will still have to compete with Apple, Alphabet and even Tesla to be the first company to hit the big "T." The three companies have market capitalizations of $746.4 billion, $585.7 billion, and $49.8 billion, respectively, as of Friday's close.
"It's feasible, but you need to take it in .... context," said Munster, co-founder of Loup Ventures and formerly a top Wall Street tech analyst. "This is a glacier, it moves deliberately in a direction, and it's just going to carve up the retail landscape. So this is something that's not going to happen in the next couple of years."
NYU professor Scott Galloway has argued that Amazon has changed the way that shareholders, investors and companies think about their relationship. In a shareholder letter earlier this month, CEO Jeff Bezos reiterated the company's 1997 philosophies of investing aggressively in the long term, even at the expense of short-term profitability.
It's that philosophy, Bezos argues in the letter, that allowed Amazon to take bets like Amazon Web Services, which is now the dominant player in cloud computing.
"The opportunities are so big," Munster said. "Specifically, offline to online, or AWS or any other thing that Bezos might get into. They're so big that investors are willing to forego profits for that growth longer-term. If they didn't have these open-ended markets, this would be a stock that would be trading much lower."