Subject: Re: Goog vs Msft
MSFT has traded in a PE range of 27 to 37 on a TTM basis for quite a few years.

Though true, this has been an exuberant bull market that has flattered large tech companies.
Remember that Microsoft's PE range (say) 2008-2014 was 8-25, average 12.6. At that multiple, the current price would be $172, not $524.

It's hard to decide what constitutes "normal", and I'm not expressing an opinion on that. But it's important to avoid the pitfall of overemphasizing what happened most recently just because it's recent.

Jim