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A senior analyst at Banc of America Securities has questioned the current valuation of Amazon.com in light of his prediction that the etailer's growth rate would slow during next year.

Bloomberg quotes Tom Courtney's report which said: "We find it increasingly difficult to justify the company's valuation in light of its profit outlook, as well as near-term trends in its rate of growth."

Despite maintaining a "market performer" rating for the stock, he also advised that punters "avoid it".

However, this view of Amazon appears to be at odds with Dain Rauscher Wessels, which, according to Reuters, is more optimistic about Amazon believing it's stock is undervalued.

It all makes it rather confusing reading for anyone who fancies a flutter on the Nasdaq.

No doubt Amazon's technical difficulties during last Friday's post-Thanksgiving shopping frenzy - however brief - will not have done it any favours. ®

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