How much of this excitement about AMZN is based on its cloud business? So much of the internet runs through them now, if they started to good margins on that business it might make up for the #$%$ retail loss-leader they run.
Never mind, found my answer, that angle doesn't add up either:
"The WSJ notes this morning that AWS is the Internet's fastest-expanding business. Revs of $2.1 billion in 2012 are expected to expand to $3.8 billion in 2013. Amazon's total retail revs are expected to increase just 25 percent to $73.6 billion for the year."