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Comparing an absolute bubble with Amazon stock price which had a sustained run for 20 years shows
a lack of understanding, just like you are anchoring on that $2.7B net income.
It is not just you, many investors and individuals take the wrong lesson from the last crisis.
-- Kingran

The comparison is apt in one sense - Jim

In Krishna's piece on "bull market don't die of old age"... captures how comparing FAANG with 2000 internet bubble is wrong. Slide #11.

The price to sales ratio was 16x of (Intel, Cisco, Microsoft, Oracle, EMC) during 2000 vs 5.2x of (Netflix, Amazon, Apple, Google, Facebook). Also, if you compare the return of the portfolio's relative to SP500, you can see how far the valuations were stretched during 2000.

Like I said comparing current market to 2000 valuation is incorrect.
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