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Here's Why a Star Fund Manager Just Sold His Entire Stake in Amazon.Com

Dow Jones2022-01-13

Amazon.com has been a holding for four years in the Blue Whale Growth fund, one of the highest-profile U.K. funds that invests in U.S. companies.

Not any longer. Fund manager Stephen Yui told MarketWatch sister publication Financial News that rising inflation made him uncomfortable with owning Amazon $(AMZN)$. "We've never liked the retail business, and now we like it even less because of the inflation narrative," he said.

The Labor Department on Wednesday reported that consumer prices shot up 7% in the 12 months ending December.

Yiu also said Walmart $(WMT)$ and others have stepped up their e-commerce game due to COVID.

On Amazon's other key business, cloud provider AWS, Yui said the growth potential of Microsoft $(MSFT)$and Alphabet $(GOOGL)$unit Google were higher.

Amazon shares have climbed 6% over the last 52 weeks, underperforming the broader S&P 500 that has gained 24%.

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  • kenlim45
    ·2022-01-14
    Like
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  • NEWBIE
    ·2022-01-14
    Yes a good choice. 
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  • 我i168
    ·2022-01-14
    [Cool] 
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  • Tiga168Go
    ·2022-01-13
    A bit of drastic but I suppose they have a team of analyst researching to reach this conclusion. 
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  • 笑看海浪
    ·2022-01-13
    wise choice
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  • CYK1955
    ·2022-01-13
    K
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  • KCmax
    ·2022-01-13
    Please like, thank you 
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  • CIG
    ·2022-01-13
    Good move.
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  • Ultraviolet
    ·2022-01-13
    Col
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  • KLS
    ·2022-01-13
    Uy
    Reply
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