joining us is ubs analyst lloyd wamsley. it was a good quarter. everyone seems to agree on that. however, once again, wall street doesn't care about amazon's profitability. two straight quarters of a loss and this quarter at the low end, operating income could be zero dollars. is that risky? if markets turn again, they value value more, could that be a leg down for amazon in the back half of the year? >> i think the trajectory here on amazon is definitely higher in terms of margins and profitability. they've been going through a really tough period in terms of really absorbing a lot of the inflationary costs, passing less than a typical company would along to consumers or businesses we're starting to see them rationalize capacity volumes will grow into the fourth quarter i think the profit outlook here is actually -- looks a lot brider ahead than what we've been battling with for the last several quarters >> lloyd, amazon did a lot better than some folks expected in this quarter. but i wonder from here, especially as we look to q4 and beyond, is a bet on amazon also a bet that we