Apparently not to you.
That's why it's called earnings PER share, the ratio takes into account the number of shares because the denominator is the number of outstanding shares.
All the P/E ratio tells you is how inflated the stock price is, and that's not the point, so that's not what I need to be looking at. Yes that is a factor, just like all the financial statements, and every financial ratio are as well. People are arguing about whether apple is ahead of the curve or not, and the fact is that apple manages innovation well. They consistently release new/updated products and obviously do it better than just about anyone, because their EPS is higher than most if not all of their competitors.
Lastly, P/E ratio is really only useful when comparing two stocks in the same industry, the technology industry's average P/E ratio is 16 which apple is very close to. Amazon is not a tech stock.
Edit: actually apples P/E is 15, which is below the industry average.
Uhhh updated? They released an EDGE phone when there was 3G, they are gonna be releasing a phone with LTE at most 2 years behind.
Amazon is a tech stock, they are completely online, the company itself describes it as a tech stock.
In the end its too high, Microsoft is 11, and it makes the same profit and Microsoft is in a better position to dominate tablets than Apple is, which then leads into phones.
Then of course I could be wrong and iAds could be the next big thing in IP TV.