Amazon.com, Inc. (AMZN) Message Board

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

AMZN 220.66

+1.6%

Nov 21 9:30 AM EST

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To: Rob S. who wrote (100528)	4/14/2000 1:36:00 AM
From: Bill Harmond	Read Replies (2) of 164684

There's nothing new about Internet stock valuation. Aol had it since 1992, and Yahoo had it in 1997. What's new is the supply of stock. That has to be sorted through, and the long-term winners which are being indescriminately disgarded because of the sector sell-off need to be (and will be) distinguished from the losers. The Internet is growing faster than any other part of the economy, and thus will attract capital at a commesurate rate over time. The relative prospects of these leading companies to produce cash flow and earnings has only been enhanced by this liquidity crunch, because the weak are being culled out. Fear has raised the risk premiun in this sector to hysterical levels. Nobody trusts anything and there is no liquidity. The market will run its course and the cream will rise again to the top.

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