Are we coming to the end of the valuing of growth stocks using P/S or P/R or P/BS (my favourite :) back to the good old PE? Will we see a return to a growth stock being something on at a PE20 and a value stock at PE10-12. Early signs over the last few months include news that once resulted in a company jumping 20% now barely causing a change. One could argue it's long overdue especially, when a juggernaught like Apple can be on a PE ratio in the mid 20s and continue to grow at impressive pace whilst, so called growth stocks earn no money for years and years and be at a price that make it impossible to grow into even using the P/BS! Food for thought!