Buying young, quickly growing companies that borrow to fund expansion will eventually get you a mature company with both earnings and the ability to repay the debt. Once a high growth company gets VERY large, like CRM at over $200 Billion market cap, it becomes difficult to continue growing at 20% or higher annually. Sometimes, mature companies can continue to justify high PE ratios through accretive acquisitions, or share buy backs. Both of these can increase EPS for a period of time.

Some companies, like GOOG, AAPL, AMZN, and MSFT have regrouped, refocused, found ways to rejuvenate their earnings per share and continue to justify very high PE's.

The main question now is, does CRM continue to grow EPS, or is their an EPS slow down headed their way? If new competition is starting to take market share, possibly at lower price points, or just their enormous size makes it harder to continue at 20% annual growth, the share price can decrease for a period of time.$Salesforce.com(CRM)$ $Alphabet(GOOG)$ $Apple(AAPL)$ $Amazon.com(AMZN)$ $Microsoft(MSFT)$