The growth is baked into the valuation. I don't disagree with your ideas, but so much is built on perception. Share prices fall. Capital becomes more expensive.

The growth is baked into the valuation. I don't disagree with your ideas, but so much is built on perception. Share prices fall. Capital becomes more expensive. Options aren't worth as much. Employee morale drops. Profit isn't the only or main measure of success these days, which is unfortunate. As a long term shareholder, I'd be somewhat concerned about their ability to compete and deliver, but I'd be fine with their current profit levels. Not at current valuations however.