Does Amazon have too much money? — Market Mad House

You can make the case that Amazon makes too much money.

For instance, Amazon (NASDAQ: AMZN) reported a quarterly gross profit of $33.46 billion; a quarterly operating cash flow of $19.659 billion, and a quarterly ending cash of $12.856 billion on 31 December 2019. Consequently, Amazon had $55.021 billion in cash and short-term investments on 31 December 2019.

Therefore, Amazon could buy Macy’s (NYSE: M); America’s largest department store operator for cash and have over $50 billion left. Mr. Market gave Macy’s a $5.016 billion Market Capitalization on 10 February 2020.

Additionally, Amazon could buy Kroger (NYSE: KR); America’s largest standalone grocer for cash and have $32.492 billion left. Mr. Market gave Kroger a Market Capitalization of $22.529 billion on 10 February 2020.

Is Amazon Too Powerful?

Therefore, we need to ask ourselves if we want any company to have that much power. In particular, many critics charge that Amazon is a company that builds its business on dead jobs.

On 5 February 2020, Macy’s announced it will close 125 stores and one of its two headquarters, NPR reports. Additionally, Macys plans to eliminate jobs or 9% of its workforce.