Haha, although I do believe in Jeff Bezo and Amazon's vision, the current valuation is very high. I can see Amazon one day reaching Google's current profitability, but there is no way the P/E ratio would maintain close to what it is now (other wise Amazon would be worth about 10 TRILLION dollars). So the effect is that even if Amazon is tremendously successful in the future, the stock will probably experience a period of "relative stagnation" as the value of the company catches up to the tremendous valuation, then gradually grows proportionally with the profitability of the company.
Google is at about a $13b annual profit run rate these days. Amazon would need sales of $250b to $325b to hit that level. Needless to say, that's a very, very, very long ways off: maybe decades.
