Maybe your world is a little too small and your sight is too narrow... It appears Amazon has not even conquered Brazil yet, there is another Amazon there... I like Amazon (and Bezos) very much but not the price at this moment. Are you out there buying like mad right now?
I am buying here because I buy a little more stock every quarter, and Amazon is no more expensive than it was when it was $30 per share, or $60 per share. The fact is that Amazon has always been a expensive stock if you look at it strictly on a PE basis. People don't understand the Amazon business model and that has been and continues to be to reinvest in it's ecosystem. And it makes even more sense now because capital is cheap, and as long as capital is cheap it makes more sense to invest back in the business than it is to keep giant amounts of cash on the balance sheet because cash isn't going to earn a lot of money now anyway. Amazon's revenues are growing 10's of billions yearly, nobody delivers just about any product faster, and nobody has better service. Strong buy........$500/share coming.