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Once simply an online purveyor of books, Amazon.com has become a marketplace for just about anything you’d want to buy.
Like other Fools on this board, I just dont believe the hype. Today they missed revenue estimates, made a measly margin and with a PE 3,400, I would say watch out below. Sooner or later, door number 2 wil open and the site behind that door wil be non-pleasant.Someone explain to me what kind of irrationality drives Amazon, Salesforce and the newest kid on the block, Facebook? Why would a marketplace, a purveyor of everything under the sun, be trading at a PE above 3,000? At least Apple has the margins and the cashflow before it got ahead of itself.
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