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Technology Stocks : Amazon.com, Inc. (AMZN)

AMZN 229.12

-0.2%

Nov 26 3:59 PM EST

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To: Mark Fowler who wrote (63603)	6/21/1999 11:11:00 PM
From: Robert Rose	Read Replies (1) of 164684

<I disagree with this and who is Yhoo passing the baton too in your view i think it just has gotten ahead of itself on the last run up in Dec. of '98.> Steve Harmon's measures have consistently shown Yahoo's user valuation to be twice that of other Top 10 (non-pure ecommerce) websites. However, its merger with Geocities lowers that measure considerably, so perhaps that point is now moot. internetnews.com Market Cap Comparison AOL 121B AMZN 18B EBAY 18B GNET 1.6B MSFT 434B YHOO 30B As a stock's market cap grows, its stock price appreciation tends to diminish. Case in point: MSFT. In 1999, is AOL likely to quintuple in market cap as it did in 1998? Highly doubtful. As the pure internet stock with the second largest market cap, YHOO is beginning to experience the phenomenon its older brother faces. In contrast, the sky is still the limit market-cap-wise for GNET. I am not arguing revenues, earnings or growth rates here, merely that market cap size may influence stock price appreciation in and of itself. My "baton" comment was merely referring to the fact that while YHOO was a standout leader in stock price appreciation in 1998, I do not believe it will be in 1999. Stocks like GNET will certainly outperform it, with relative market cap size being one of the reasons why. JMO

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