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Amazon and Apple are very different companies. Apple designs, manufactures (well, mostly contracts out manufacturing), and sells a relatively small number of relatively high margin products that they sell boatloads of. (And, like Amazon, they have some cloud services but at Apple's scale these are a pretty small piece.)

Amazon on the other hand continues to build out enormous infrastructure both for Amazon Web Services and Amazon.com. AWS is also in something of a price was with Google right now with various headlines today somewhat hyperbolically predicting that cloud services were headed towards essentially free. That said, Amazon is arguably building a huge (and costly) moat around its business.

They're both impressive companies. But Apple's business requires a whole lot less reinvestment relative to revenue both now or in any near- to mid-term foreseeable future.




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