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

AMZN 229.12

-0.2%

3:59 PM EST

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To: Lizzie Tudor who wrote (89646)	1/4/2000 2:17:00 PM
From: Robert Rose	Read Replies (2) of 164684

Glenn, fwiw, I would be cautious about buying cmrc here. For the next month, I expect a tug-of-war on the stock. On one side you have its extreme valuation (given standard measures), and the fact the market is topping, if not yet in a downtrend. OTOH, you have a first-tier b2b in a year in which this sector will come into its own. Best case: the company blows away all estimates when it reports 1/28 (probable) and briefly flirts with its recent all-time high of 331. Worst case: the stock gets hit with profit-taking as the market pulls back and losing momentum, corrects to the mid 150's. My take: the stock has some upside from here this month, but it's best to wait it out at this point and buy when the market bottoms out after a pullback. (Probably mid-March to buy cmrc.) fwiw, Rob

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