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Amazon is selling for about 60x earnings but 2.46x enterprise value to forward revenues. Given Amazon is growing at quite the pace, most of its profits are coming from its fastest growing business, cloud, that it is so dominant that it will be the IBM/Walmart/Sears et al of this generation (so dominant for decades) and growing at this rate 2.46x sales hardly a bubble. 60x (given Amazon could reduce its expenditures if it wanted to) hardly a bubble.

Good results do not mean no bubble, but no bubble means no bubble. For me the bubbleth argument is over. Others can discuss amongst themselves.

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