AMZN – Market expectations are for Uniform ROA to decline, but management is confident about one-day delivery, AWS, and spending trends

• Amazon.com Inc. (AMZN:USA) currently trades above recent averages relative to UAFRS-based (Uniform) earnings, with a 38.2x Uniform P/E. However, even at these levels, the market has bearish expectations for the firm, but management is confident about one-day delivery costs, AWS, and spending trends
  
  

• Specifically, management is confident they’ve created 700,000 jobs in India since launch, that better-than-expected trends led them to beat their $1.5bn
  one-day delivery cost guidance, and that AWS’ success has been a result of a lot of work on adding new products and features. In addition, they are confident that they see a relative tick-up in spending trends as they get closer to the holiday season