If we assume AMZN will continue to grow 37% forever (which it can't and will not). The stock prices should be around $123 with P/E of 37.
But a more realistic long term outlook is 30% growth and margins which level off (on a downward slope thus far). So in a year, AMZN will be fairly priced at $100.
The pros see this and will short this pig when they switch with market sentiment. Even a perfect reflation environment can't save Amazon because reflation is choking off the consumer and the states are about to default on debt. We are in STAGFLATION for next few years at best. At worst, we will have deflationary spiral. Let's be honest.. But don't be unpatriotic and sell short too much, we need to outlast the Japs, Euros, and Chinese. Let's plan for the worst and hope for the best!