Followed by excruciating, painful decline. "Day 2 is stasis," Bezos said in a 2017 shareholder letter. Bezos famously said a Day One mentality would help Amazon stave off its demise, and described it as continuing to innovate rapidly like a startup, no matter how large the company becomes. Shmulik urged Amazon to get back to its "Day One" mentality, referring to a phrase championed by Amazon founder and Executive Chairman Jeff Bezos, who was succeeded by Jassy in July 2021. The stock was down 3.6% to $122.12 as of early afternoon New York time.
Amazon shares are up 50% year to date, but they've underperformed top peers by about 52% over a five-year period, he said. "But what we've seen recently is a company simply pursuing too many ideas, with weaker ideas taking away the oxygen, capital, and most importantly focus from the truly disruptive initiatives that 'only Amazon can do.'"Īmazon's stock performance compared with its "closest mega-cap peers" - Apple, Microsoft and Google - has also left investors wanting, Shmulik said. "We fully support Amazon's efforts to uncover and capture the next AWS-sized opportunity," wrote Bernstein's Mark Shmulik, who has an outperform rating on the stock. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit
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