Amazon earnings: How Jeff Bezos gets investors to believe in him (txt)
"According to its latest earnings report, the online shopping giant's net sales increased 20 percent compared with the previous holiday season—a number that would seem staggeringly high if it weren't so routine for a company that’s been growing rapidly for years. Yet the company’s net income of $274 million for all of last year was tiny relative to its sales of $74.45 billion. Amazon's profit margin was virtually nonexistent." There's a good reason why it has a PE multiple of over 600 and still seems like a good bet.