Apple’s (AAPL) second fiscal quarter ends Saturday, and although the market spent Friday morning knocking the stuffing out of its share price (Apple fell back below $600 in mid-morning trading), Wall Street remains bullish on Tim Cook’s company.

How do we know? We’ve watched the analysts’ Q2 estimates for Apple climb more than 24% in the past 90 days — from an EPS of $7.86 three months ago to $9.78 today. (Even that’s low, according to our panel of independent analysts; their consensus is calling for Q2 earnings of more than $12.50.)

By contrast, the Street’s estimates for the rest of the stocks in the tech sector — from Amazon (AMZN) to Google (GOOG) — have been falling over the same period. Amazon’s EPS estimates have been particularly hard hit, down more than 80% over the the past three months.

In the bizzarro world of the equities market, however, Amazon is still rewarded with a trailing price-to-earnings ratio of nearly 150 to Apple’s 17, meaning AMZN is perceived as more than eight times more valuable than AAPL. See chart below.

Thanks to Stephen Rosenman, who took a crack at these calculations earlier this week. See here.