TL;DR – Amazon's Q4 EPS was essentially a scam since it was boosted by a sky-high Rivian valuation 31.12. It boosted their EPS significantly, and Rivian has dumped 60% since the year-end. Q1 results will take a huge hit as a result, reversing much of the positive Q4 “surprise”.
The reaction to the Q4 results was so bizarre, everyone just ignored the Rivian elephant in the room. Earnings were not that great otherwise. That's why I'm considering selling out of Amazon even despite the split announcement, just in case the market goes Pikachu-face in reverse over the Rivian write-down.
Thoughts?
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