(Seattle)

Tony Mitchell is a well-known fund manager in the tech space. His tech mutual fund has outperformed the market for years. However, it has done so with a very interesting quirk—it has never held Amazon, until now that is. The reason why is that its P/E ratio always seemed to high at between 190 and 400. However, recently, Amazon’s P/E ratio has fallen back to earth. Its current ~80x is not cheap by any measure, except against its own history. The company’s web services division is growing strongly, its advertising business is surging, and it has a good foothold in the gaming industry. This means it could be a good time to pick up Amazon’s stock.

FINSUM: If you believe Amazon is going to continue its growth story, then right now does seem like an ideal time to pick up shares.