Is Amazon high PE ratio justified?

Looking at AMZN's metrics from a value investing perspective, the high P/E is concerning. While AWS dominance and reinvestment in growth explain some premium, current valuation assumes everything goes perfectly. The market seems to be extrapolating past growth rates, which as you note, become mathematically challenging at their revenue scale.

The combination of high P/E, slowing growth potential, and thin retail margins suggests limited margin of safety at current prices.

Further risks analyzed here: https://www.valu8.app/blog/AMZN_2025-01-21

What do you think about it?