Shareholders of Amazon.com, Inc. (NASDAQ:AMZN) woke up yesterday to see AMZN stock down nearly $4 per share. The reason: a critical tweet from the President of the United States.

Amazon is doing great damage to tax paying retailers. Towns, cities and states throughout the U.S. are being hurt – many jobs being lost!

— Donald J. Trump (@realDonaldTrump) August 16, 2017

The Russian news service RT gleefully reported the $5 billion market-capitalization hit Amazon took on the tweet, but the substance of Trump’s was inaccurate. Amazon does collect sales tax on customer purchases and has made taxes a profit center, making calculations and payments on behalf of re-sellers on the site.

It can be expensive to calculate sales tax on hundreds of jurisdictions. States, cities and counties all collect sales tax, at various rates, making the calculation difficult, the payments complex. Amazon makes its money by destroying just this kind of complexity.

Point, Amazon

The fundamentals for Amazon’s business remain strong, the biggest problem being the law of large numbers. It’s harder to grow a big number than it is a small one, and Amazon is now dealing with some rather intimidating figures.

Amazon is still less than one-third the size of Wal-Mart Stores Inc. (NYSE:WMT) by sales, but WMT stock has hit a ceiling, selling at just 18 times earnings. That’s because Walmart has hit a growth ceiling. It has saturated the U.S. and Canada with its stores, and top-line growth will mainly come from other markets.

The good news is Amazon is having no such problems. Some 30% of its sales volume is already outside the U.S. and international net sales grew 17% year-over-year. Walmart, in its most recent report, showed lower international sales than a year earlier.

Both companies, however, are seeing stronger growth in North America than elsewhere. Amazon’s sales in North America rose 59% year-over-year. Walmart was thrilled to report 3.3% growth in the U.S.

What Walmart lacks, of course, is cloud. The AWS cloud had $4.1 billion in revenue during the most recent quarter, and $916 million in operating income. Most is spent on bare infrastructure, a contrast with companies like Microsoft Corporation (NASDAQ:MSFT) and International Business Machines Corp. (NYSE:IBM), which lump software and services revenue delivered by cloud into those figures so their comparisons with Amazon appear better.

Amazon downplays profit, and delivered just $197 million in net income during the past quarter, because it is constantly plowing money back into its business, building cloud data centers, new warehouses, buying planes and its delivery capability, writing or buying software, and getting TV and movie rights in a crowded market. Growing the top line at 20% per year is always the goal, and it’s a goal the company continues to meet.

Bottom Line on AMZN

I recently took some profits in AMZN stock, because I’m becoming negative on U.S. economic growth and it was becoming a huge part of my retirement portfolio. That doesn’t mean I’m down on Amazon.

Neither is Tom Taulli, who points out how Alexa is fast making Amazon an artificial intelligence juggernaut, right under the noses of Microsoft, Alphabet Inc (NASDAQ:GOOGL) and Apple Inc. (NASDAQ:AAPL), all of which are pushing voice interfaces.

Writers who think Trump still has power, like Larry Ramer, are all for taking profits right now, fearing what the president’s investigators might do to the company.

The problem is, a President’s power is proportional to their popularity. In an unpopular administration, investigations that look political will get pushback. As previously noted, Amazon is growing quickly internationally.

In short, I believe the wind continues to blow in Amazon’s direction, even though the ship will slow in response to that wind as it gets bigger. This is a ship built to handle any political storm, and it will be growing long after the name Donald J. Trump is historical trivia.

Dana Blankenhorn is a financial and technology journalist. He is the author of the historical mystery romance The Reluctant Detective Travels in Time, available now at the Amazon Kindle store. Write him at danablankenhorn@gmail.com or follow him on Twitter at @danablankenhorn. As of this writing he owned shares in AMZN and MSFT.