Amazon is an outlier in American corporate culture. Its founder and very active CEO is somebody who double-majored in CS and EE. My explanation of them is that Bezos never was indoctrinated with MBA dogma, and instead runs his company like an engineer. He's been lucky enough (and skillful enough) that Amazon has always done well enough that his investors have never pushed for a "real" CEO.
So for me, Amazon is proof twice over for my theory that MBA dogma isn't even very good for business. Not only are they doing well in the long term by not giving a crap about quarterly numbers, but they don't have serious competitors because typical execs don't even get how they're being run over.
At some point though the market expects this trend to reverse and the quarterly numbers to start looking very good. Which is what has been priced into the current share price.
Corporations with high P/E ratios are the counterexample to this, and Amazon in particular has a very high P/E.