Amazon vs Apple - The wrong one fell 10% today

Full Disclaimer: Anyone who has read my blog and my Twitter (@capmanifesto) knows I am shorting Amazon.  I shorted at $245.50 (average because I shorted twice) and I am in the red quite a bit of money.  I am not at all concerned as I have explained in previous posts.  Amazon is a great company with not so great financials and a terrible valuation.  Anyway you cut it, it’s not a company worth 140 times the average income of 2009-2011 (2012 isn’t done yet but the last twelve months have produced $40MM in profit which puts Amazon at 3000 times earnings).  Apple, today, didn’t hit revenue estimates but it hit profit estimates.  So what happened after hours?  The stock fell 10%.  That’s over $50billion in value lost! Let’s look at Apple’s income statement since 2003. What insane growth is that!?!? In 2003, the compan...