Amazon: Why Falling Margins Are The Signal

The $100 billion (annually) that Amazon.com, Inc. ( AMZN ) has invested in their AI infrastructure is based upon a semiconductor (chip) that the vast majority of investors are overlooking. Investors tend to be focused on theAt Vega North we write about investments and portfolio construction for readers who care more about process than predictions. We test ideas with open data (FRED, filings, index/factor libraries) and reproducible notebooks, focusing on position sizing, regime-aware risk, and the psycholog ...