I am pretty sure it is the apple money. For that matter there are lots of overpriced stocks going higher with the money being moved around from apple. That plus the fact new money is now going into equities where they were mainly in bonds prior to this year. Problem with retail is that they can continue to sell increasing amounts and not make money. Only hurts their competitiion. Zero sum game. When they try to improve margins people will shop elsewhere. The tablet market is such that they make nothing on those sales. And that market is saturated. The cloud business is profitable but they don't really have a huge business there in relation to their total sales. Not big enough to move the needle. This is a hard stock. It gets the benefit of the doubt due to Bezo's trance on the public. They seem to be in love with the guy. I have found normally these guys go from immortal god to average joe at some point.