You have a company like QCOM beating earnings and raising year guidance and was only up 4.4% for the year ...... and as of now about even with the huge sell off, and you see a company like Amazon with way out of whack P/E - and not like QCOM is warning that the year will be bad. Has to be people are impatient and/or over-thinking things. The company is doing well and will continue to do so. The price should not be down as much tomorrow....maybe even green.
Here's what's crazy, unlike the majority of stocks this quarter, this one GREW revenues and beat on revenues. AMZN and CRM are rewarded based on revenues but this one gets torn a new one. And other stocks that had declining revenues but grew profits by teeny weeny's are ok as well. Yeah earnings season is just crazy. You have to wait for the froth to settle back down. Buying a bushel if they tank it below 60.