yeah or at least close. I never buy under 2 peg unless i'm buying dividend. amzn is a market leader but these valuations are out of control. they're not without competition. sales tax now a factor... big box stores are matching online prices (ie, best buy)... ipad mini... facebook gifts.. the list goes on. amzn has no margins! where's the barrier to entry beyond amzn's scale?? There is none. Their scale advantage will be erroded as soon as amzn attemps margin expansion. To justify these rediculous valuations, they need absolute perfection in the face of competion from ebay, apple, overstock etc. Even with perfection, I see catch 22 for amzn... they can't expand margins and maintain sales growth. They will be lucky if sales don't collapse when the company attempts to switch gears.