Amazon.com, Inc. (AMZN) Message Board

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

AMZN 229.55

+0.2%

Dec 5 9:30 AM EST

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To: Bill Harmond who wrote (69812)	7/26/1999 8:15:00 PM
From: GST	Read Replies (3) of 164684

William -- they trade on the basis of what might happen sometime way out there on the horizon if all goes well -- they are speculations on future competitive conditions and consumer behavior. They have no fundamentals in the sense that there is anything here and now that you can take to the bank -- they have no meaningful assets and no profits. If everything goes perfectly (or better) they may be worth their current valuations in five years. Discount that by the risk-free rate of return and you get an 80% over-valuation without taking into account the risk -- which would make them worth very little indeed if factored into the price.

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