America On-Line (AOL) Message Board

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Technology Stocks : America On-Line (AOL)

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To: Ed Forrest who wrote (24597)	6/30/1999 5:23:00 PM
From: David E. Taylor	Read Replies (1) of 41369

Ed: Institutional buying on AOL per I-Watch was very light again, even in the last couple of hours. Seems to me there are a couple of heavy overhangs on the stock which need to be cleared away before we have a major up move: (1) Despite the DSL, DirecPC and Palm Pilot access routes for AOL, cable access seems to be viewed by the street as a "must-have". AOL needs a major deal here, probably won't happen until the Portland appeal is either settled or AT&T sees that it's going to lose. (2) Given the importance of subscriber revenues to AOL's bottom line, the street seems to be waiting for some assurance that US subscriber growth is not being hurt by ATHM, and that overseas growth isn't being hurt by the "free access" providers. IMO, these two issues aren't likely to be settled quickly, but will take at least a few months (or quarters if Y2K gets in the way) to sort out. It's clearly going to take some heavy institutional buying by Fidelity et al to get us through the technically heavy resistance between 112 and 120. David T.

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