Warren Buffett 'Not Surprised' by Amazon (AMZN) Valuation

Amazon (NASDAQ: AMZN) is trading up 1.2% in early trading Monday after hitting a new 52-week high earlier in the session. Shares may be benefiting from comments from Warren Buffett on CNBC this morning that he is not surprised by the valuation of Amazon.

At last year's annual meeting, Buffett admitted he missed out on the stock. It was at $935 then and now it is at $1500.

Buffett said he is "amazed" by the managerial talent of Jeff Bezos.

While he is not investing in Amazon, Buffett said he would never bet against it.

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