This stock seems very gamed. Just look at the last quarter. The sell-off after hours and then an immediate rebound.
AAPL money being rotated to this stock in a big way.
I am very interested to see the action the next 2 days going into earnings. Earnings themselves won't matter only top line growth and let me take the first part back, the way it goes with this stock bottom line results will only matter if they are strong and then of course they will give a wide range of guidance and the analysts won't hold their feet to the fire.
As someone who favors fundamentals much more so than technicals I never understood why this stock gets such a rich valuation but the fact is those that have bet long here (not me!) have done very well.
At some point they won't but when that will be is the million dollar question.
"...those that have bet long here (not me!) have done very well. At some point they won't but when that will be is the million dollar question..."
All you have to do is buy the dips, sell the rips. It's really easy, even a dumb hillbilly can do it. I'm waiting for earnings to sell, if it spikes I'll sell some, if it dives I'll watch it and buy when it looks like its at a bottom. Now is the time to sell, if you haven't already. It's not the time to buy. The time to buy is when it dips 20%, which would be $230. AMZN always hits new all-time highs, so if you buy at $230, you can be assured it will go up to $285 again.
In the event of a loss of a couple hundred million and/or a revenue miss, then look out below. I think the mile markers are $240, $225, $205, $185, and $165. If the move is swift and vicious like Apple with forced liquidation, then maybe even lower. It might take a few more quarters for an indictment of the business. There's a problem with all out pursuit of growth: what happens if you make a mistake or the economy/competition forces one on you? There's no savings to pivot and the knife has to come out.