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During a summer period that has seen stocks not do much of anything, a midday sell-off had some taking notice on Thursday.
Record quarterly earnings for Samsung put the South Korean company on pace to beat what analysts expect Apple to earn! Yahoo Finance’s Alexis Christoforous and Andy Serwer dig into the latest chapter in the war between Apple and Samsung.
After one of his lawyers mistook the name as “Cadaver,” the young CEO filed papers changing it to, you guessed it, Amazon—a name today that strikes fear in the hearts and minds of retailers everywhere, and stops traffic on Wall Street on a day like today when it reports earnings. Jeff Bezos, who currently has a net worth of approximately $90.9 billion (surpassing Bill Gates), came up with a business model so powerful that the largest retailers on the planet seem helpless as Amazon (AMZN) devours nearly everything in its path. In its infancy, the internet was a new communications medium, and Amazon initially was only a threat to book stores.