Amazon.com (AMZN) is set to report first-quarter earnings this Thursday after the market close. Consensus estimates peg the online retailer earning $0.09 a share on revenues of $16.18 billion.

Last quarter the company missed on profit, revenue and guidance, but was given a pass based on signs of improving operating margins. Amazon enthusiasts are bolstered by the company’s investment in building out fulfillment centers and adding content licensing agreements. Most seem undeterred by its sky-high valuation -- a one-year forward P/E of 74, making this one of the most expensive stocks in the land.

In the attached video, Gene Munster, sr. analyst at Piper Jaffray, explains his belief that the more fulfillment centers Amazon announces, the better the stock price will perform.

“Bottom line, that is a sign that margins are going to be drifting higher. And for this stock to work, we believe there needs to be the hope of margin expansion, not actual margin expansion," he explains. "We think that they will give some glimmer of that when they report their quarter.”

Munster calls the stock a long-term hold based on the fact that 7% of goods purchased in the U.S. are bought online; a number he says is going higher. He has an “overweight” rating on the stock with a $329 price target.

Further, this analyst will be listening for initiatives off the conference call that are a little outside of the box.

Hollywood is bringing back the man of steel, and one thing we can count on (other than a new body-sculpted suit), is that kryptonite will still be the only thing that zaps him of his power. While the comic geeks have Superman, investors have Helicopter Ben and the Federal Reserve that's pumping $85 billion a month into the economy. But could it be the Fed has its own version of kryptonite that’s sapping its strength? Christopher Whalen of Carrington Investment Services seems to think so.

The benefits of the Fed’s quantitative easing (QE) program are being offset by regulation promulgated from Washington, Whalen says, and therefore nullifying its stimulative ability. “When you look at all the constraints on banks in terms of lending, it's just not being effective in terms of growing jobs, and the key thing is that even with say housing up 10% last year, there’s no credit growth,” Whalen notes. “In terms of a classical economic recovery, we’re not having that.”

The Fed’s plan of reflating assets like home prices in order to stimulate the economy (and thus job growth) is admirable, but according to Whalen regulations like Basel III and Dodd-Frank are stifling lending. This is because reform legislation discourages banks from making all but the least risky mortgage loans.