On the one hand, I can understand if Amazon takes business away from countless other places. But from my understanding, the whole warehouse thing and delivering packages is at best still a break even business. Its the AWS that is making the money. And in a way, if lots of other business go under, perhaps even those that used AWS might go down as well, so even AWS could in theory lose business.
But of course, with no where else to put your money, Amazon will keep going up. I'm starting to think this rally has very much been fueled by government cheques needing to be spent, and what better way than stocks!
I highly highly highly doubt that amazons AWS is driving their stock to record highs. The amount of revenue from AWS which has increased throughout the last few years is still small and relative to the massive market.xap on Amazon its nothing but liquidity at this point from fed printing that has taken over to create this unstoppable ride up.