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Tech Today: Amazon to $2,600? Netflix's Dominance, Dumping Altaba

Here are some things going on today in the world of tech: Shares of Amazon.com (AMZN) are up $5.90 to $1,748.97, after Morgan Stanley’s Brian Nowak reiterated an Overweight rating, and a $1,700 price target, writing that he can see the stock reaching as high as $2,600. Nowak is awed by Amazon’s scale: He expects the company to generate $25 billion worth of Earnings before interest and taxes, or Ebit, this year, “to invest at record levels." "Consider that (by our math) Amazon's advertising + AWS + Subscription EBIT this year ($24.5bn) will be ~17x greater than AMZN’s total EBIT in 2010." His point is that “over the long-term” the rise of the Amazon business keeps giving the company more and more ability to "invest and deliver higher profitability." Nowak’s estimates for the June quarter and the September quarter, for Ebit, are 14% and 47% higher than the Street, he points out, at $5.4 billion and $6.4 billion.