Just for the record, Warren Buffett didn't purchase Amazon shares. One of the two guys he has now running part of Berkshire Hathaway's portfolios did that. In my opinion, a dumb and high-risk move. It doesn't mean it can't go up. It means it has huge downside risk potential, as shown on the chart.
Forward P/E is 51. It's almost a trillion dollar company, yet it only makes $29 billion in earnings. WAY overpriced.
This is an excellent example of investing in a company one frequently does business with without any regard to its fundamentals. You often mention this as illogical.