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

AMZN 244.25

-2.0%

3:59 PM EST

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To: GST who wrote (100185)	4/12/2000 5:10:00 PM
From: Bill Harmond	Read Replies (4) of 164684

>>Net stocks do not make good long term investments. Speaking from experience, GST, I know you are utterly wrong. Internet stocks (like in any sector...the great ones) have produced awesome returns. Even if this is a revaluation correction by half, the good ones can triple from here in the next 12 months which means they will challenge or exceed their old highs. The strong ones will only get stronger, too. For example, as a portfolio manager told me the other day, "Even if Phone.com's price/sales ratio gets cut in half from these levels the stock is a double in 12 months." Look at Ariba's results tonight. They are simply stunning, and the base is tiny at this point. That Prudential analyst who savaged the B2B sector two weeks ago has his head up his posterior. Don't go "categorical" on us, GST. There are plenty of marginal Net companies just like there are marginal companies in many other sectors. Don't lump the bad with the good. Stick with the leaders. Today's prices will look like a bargain over time.

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