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

AMZN 244.25

-2.0%

Nov 12 3:59 PM EST

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To: Bill Harmond who wrote (100191)	4/12/2000 5:35:00 PM
From: Sam Citron	Read Replies (1) of 164684

William, When they take the air out of the techs, the selling will be indiscriminate to some degree. Financially sound companies with earnings like MSFT and INTC will hold up relatively better than others, and may be beneficiaries of a flight to quality. But nobody, not even Mary Meeker, knows with any certainty who will be the leaders in 5 years in the internet. The landscape changes too quickly. First leaders may have an advantage, but in this sector disruptive technologies may benefit latecomers with no sunk costs. Also expect some "old economy" companies with smart managements to resume leadership positions.

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