The fire that Google and Amazon lit

Alex Pollak

Loftus Peak

Amazon and Google both reported overnight and promptly jumped 10% in after-market trade. Since 1 January Amazon stock has doubled to US$619 a share, while Google is up 37%. Add 10% for the Australian dollar numbers. Amazon’s move comes after retail competitor Walmart lowered guidance (again) this week, while the company’s cloud business is double the size of any of its competitors (including Microsoft or SAP.) The news lit a fire under a number of other big quality disruptors like Ebay (up 14%) and NXPI, which is making a big play in car to car connectivity, and rose 7%. Alibaba rose 2%. The issue is that Wall Street investors don’t have too many other places to go. Resources stocks have been hurt by commodity prices, while “blue-chip” companies are being, well, disrupted. (VIEW LINK)

CIO of Loftus Peak, a specialist global fund manager with a track record of successful investment in some of the world's fastest-growing listed businesses.

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