There seems to be a growing disconnect in Wall Street's valuations
FORTUNE — I know that comparisons, as Shakespeare’s Dogberry put it, are supposed to be odorous, but this one is beginning to stink.
How can Apple AAPL , with $110 billion in the bank, annual sales of $140 billion and earnings that nearly double every year, be valued so much lower than Amazon AMZN , which has $6 billion in the bank, sales of $50 billion and earnings that fell 35% last quarter?
This is a question that reader Jeff Forsberg has been asking for nearly a year. On Friday he sent the chart above, an updated version of the coiled spring visual metaphor he introduced last June, when Amazon’s price-to-earnings ratio was 81 and Apple’s was 16.
A year later, it’s only grown worse.
As of Friday, Amazon was selling for 184 times earnings and Apple for 13.8, a 13-to-1 gap that grew even wider in Monday’s trading.