Why is Amazon seen as such a threat to UPS? When's the last time Amazon made a profit?
Do you know why amazon was able to fulfill all their orders this season, why they have their drone program in the works, why they haven't turned a profit?
Amazon is making tons of money, they keep investing any earnings into the company to expand become more efficient. If GAAP and IFRS allowed for R&D to be accounted for differently you would see different numbers from amazon. Amazon built a $20,000 in a $1,000,000 neighborhood. They are now upgrading it to increase its value, they will see the positive equity in a few years.