However, Saxo Bank's Head of Equity Strategy Peter Garnry thinks the street has been fixated on the EPS and is ignoring the steady growth with Q1 revenue guidance at $26.5bn-$29bn vs $27.6bn estimated, Prime membership is up 51% year-over-year (an indicator of future growth), while AWS revenue growth sits at 69% y/y in Q4.  

Outlining his trade Peter sets out a long position with a trailing stop based on a current valuation which underestimates future potential, according to Peter.