[johnwheeler]

Because they don't have flying cars of course :-P

In all seriousness though, 20 is not a low P/E. It's just that AMZN's 170 P/E is very, very high. Facebook and Google are in their 20s I believe.

If AAPL were trading at 10x or 12x earnings, that would be low, but still not insanely low.

[horsecaptin]

Google's P/E is in the 50s, just like Microsoft. Facebook is 28. Pretty much every successful tech stock is way more expensive than Apple.