Yes, multiple expansion has been a factor, however, I would say it is as it should.  Rising profits will always lead to multiple expansion, even if not immediate, it will do so over the mid to long term.  Adding to this has been a market that has been in full rally mode for multiple years.  EA's estimates also have continued to drive higher in the past 90 days, the accuracy of which could be a debatable issue, but in the market, momentum is a tough thing to break, on either direction.  

I agree that for a hit dependent company, a PE of 22 is too high, but again, with the market looking for excuses to continue rallying,  EA's trajectory for the past 3 plus years has been relentlessly higher.