> Their retail/ecommerce revenue alone is around $100B. Overall, they are going to top $150B this year. Without AWS which is their primary profit machine right now, they are still at $135B+ in revenue. Don't you think if they wanted to, they'd be able to eek out a few billion in profit from that remaining $100B+ in revenue if they decided to go that way? That would get their PE below 100.

Amazon can't actually compete with us on price without selling below their costs. That is the reason we are still alive despite Amazon moving into our market. They can't raise prices _at all_.

Their ability to do so _entirely depends_ on them becoming more efficient. I suspect they can't become substantially more efficient on the retail side than they already are.