It is because Amazon purposefully depressing the earnings part of P/E by outlaying massive amounts into capex and R&D. They have a gross profit of ~$66b but a o

It is because Amazon purposefully depressing the earnings part of P/E by outlaying massive amounts into capex and R&D. They have a gross profit of ~$66b but a operating income of ~$4b. If they halved their operating expenses that ~$4b becomes ~$34b and the P/E becomes ~30 which is much more reasonable.