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Bill Ackman: Coronavirus 'hugely beneficial' for Amazon, big tech - Business Insider

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The coronavirus crisis will be 'hugely beneficial' to Amazon and other tech giants, billionaire investor Bill Ackman said

"The impact of the crisis on companies like Amazon is actually a little bit of short-term negative because they're spending a lot of money managing through this, but it's long-term hugely beneficial to the company," the Pershing Square boss said.

To the extent the market's strength reflects their prospects, that "doesn't seem wrong to me," he added.

For example, consumers are buying more things online and businesses are relying on video streaming, mobile apps, cloud hosting, and other virtual tools to function.

 

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Uhhhh, not if ppl remain unemployed. BA laying off & saying more to come, retail biz shuttering or significant downsizing, airlines just waiting for September to start layoffs. I think he may be a few years too early on this call.

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