Just wait until Amazon has perfected altered reality shopping, where you can try on clothes and maybe inspect big ticket items like BBQ grills, refrigerators, and stoves. Then combine that with their AI-powered drone-based fulfillment service and I see even Wal-Mart having a hard time staying relevant. Some of you guys are missing the benefits of being one of the leading tech companies on top of a leading retailer. They can subsidize development of these tools using profits from AWS, then both use those tools to improve their own business and sell those tools to other businesses. I usually hate the term "synergy" but this is it. This is why the market treats them like a tech company, not a retailer; because they act like a tech company, not a retailer. Their ethics are certainly questionable in some areas (I disagree entirely with how they treat their employees, from software engineer to warehouse floor worker), but their business acumen is pretty hard to criticize.