24 Quotes by Tom Courtney

The quarter was no surprise, but the future guidance was very favorable. The forecast of single-digit losses is a sea change for Amazon. We believe this is a key inflection point for the stock and that it will take off from here.

What we think the numbers are saying is that the frequency and retention of existing customers is not anywhere near where it needs to be for the model to work in our opinion.

We think they will, but the question for the stock is: in the year 2005, do they do $8 billion in sales or do they do $20 billion in sales? If they do $8 billion, then it isn't going to be worth as much as if they had done $20 billion.

Why are we downgrading the stock now? Mainly because of our belief that sales may not be advancing at the rate that we had previously anticipated and also because of the impending departure of Galli.

What happened is that the bar ran out of liquor -- they took away the punch bowl.

Is it $15 billion because of the collapse of the business-to-consumer market or it is $15 billion because sales growth slowed down by 50 percent in the last two quarters? Probably, it's a little bit of both, but I think it's more of the latter.

The one thing it said was under no circumstance would any government agency be allowed to keep the fingerprints on file,

This is actually a really big deal because in Amazon's earnings, about $24 million in gross profit comes from the commerce network,

Although it may have one last run going into the holiday period, we believe that Amazon has several red flags that demand investor attention.