Investors shouldn't worry too much about Amazon's big earnings miss, strategists told CNBC's "Closing Bell."
Shares of Amazon fell nearly 3 percent after it reported 40 cents earnings per share, falling far short of analysts' expectations of $1.42 earnings per share. Amazon's $37.96 billion in revenue beat Wall Street's estimates of $37.18.
Amazon is a stock that investors don't buy for the profit, Michael Yoshikami, founder of Destination Wealth Management, said on "Closing Bell.
"First of all, as investors, everyone knows Amazon doesn't really care about the bottom line," Yoshikami said. "They're all about growing. It's about market share."
Investors buy Amazon for its top-line growth, Stephanie Link, TIAA Investments managing director and equity portfolio manager, told "Closing Bell." As long as Amazon continues to grow its top line and its cloud computing service, Amazon Web Services, people will continue to buy Amazon, she said.
Amazon Web Services' revenue beat expectations. It reported $4.1 billion, and Wall Street had expected $4.08 billion.
"You can't really make a reaction right away," Link said. "You can't actually trade this unless you're a day trader, or a minute trader, if you will. I think you just have to take a step back and look at what the big picture is, and there's a lot we just don't have right now."
As for Amazon's planned acquisition of Whole Foods, Yoshikami said he is convinced that Amazon will benefit even the deal makes the company "literally no profit." It would help Amazon with other aspects of its business, such as drone technology, he said.
"That's how you look at this company. It's all about the vision and the future," Yoshikami said. "Jeff Bezos is not looking at next year, he's looking 20 years down the road and always has."
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