P/E only carries meaning for stable companies that aren't growing. If a company is investing for the long term, then their P/E might look terrible but they may

P/E only carries meaning for stable companies that aren't growing. If a company is investing for the long term, then their P/E might look terrible but they may be laying a base for huge profits in the future. Of course they might also be throwing money into a hole in the ground, but looking at the P/E ratio isn't going to tell you which of those are going on. NB. Amazon's razor thin profit margins are what would worry me if I had a pile of AMZN stock, not their P/E ratio.