but is gross margin still the right metric to look at amzn? it seems that amzn is shifting more and more expenses to opex rather than cogs. things like shipping expenses and technology expenses.So a simple Gross Cash Flow multiple is a far better guide to underlying ops. But then I've always thought GCF has been the best metric bar none for most businesses, particularly retail, for judging how a firm is run on its core raison d'être and is far easier to discount than multiple forward years of huge uncertainty (for most businesses).
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