If you put this P/E on Apple, Apple will be a zillion dollar company, may be even more. You fools are paying $280 for a share that earns pennies... way to go.. It is like pay a billion dollar for a condo that rents for $1000/month.
There market cap frequently goes up or down more in one single day than they have made in 16 years as a publicly traded company.
it's a growth stock and will remain priced that way until they are unable to sustain their annual 35+% growth rate.