Carolyn, I understand your point. But pleeeeeaaaassse! Don't mention amzn in the same context with emc, msft, csco, ibm, etc. Amzn is perhaps the all time most ridiculously priced, absurdly valued, insanely justified bubble stock in the long history of the stock market (going back hundreds of years no less). There is simply no possible justifying it above 20 really, and in fact, no one has even come up with a justification of it above 2 actually. YHOO does have a justification, as does aol of sorts (though they both might be overvalued, though nothing like amzn). Only pcln and etys are probably in the absurd amzn category (though admittedly I haven't checked the price of those in a couple of days-maybe they aren't that absurd now :8).
One of my worst fears about this market is that they will throw out the baby (i.e. emc, msft, et al) with the bathwater (amzn, and then the rest of the junky zero earnings bubble). The internet is here to stay even if the ridiculous companies currently in vogue may disappear shortly. Whoever is around will need emc's storage, msft's software, csco's networking, etc. Now that amzn has broken 100, look out below. At most amzn is worth a fraction of barnes and noble, maybe half or a third... (And yes, barnesandnoble.com is equally absurdly valued as well. Most every internet IPO is overvalued by a factor of 10, as I see it). |
