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

AMZN 220.21

-1.1%

10:30 AM EST

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To: Bill Harmond who wrote (108240)	9/11/2000 3:15:04 AM
From: GST	Read Replies (2) of 164684

William: No question about it, the direct effect of higher oil prices is greater in the weaker economies -- just about everywhere outside the US, including Europe which still has rigidities in its labor markets which have stifled their growth prospects for years -- oil is just an added burden. The Japanese just can't seem to pick up the pace of reform -- and they import a whole lot of oil, but on the other hand they have a massive dollar surplus in receipts from trade with us. Oil is darned expensive if you are from any of the really poor economies -- and there are a lot of them. All valid points -- but there is one more -- oil is capable of screwing up our own darling economic expansion. For growth stocks, that means lower growth rates and lower multiples on those lower growth rates. In other words -- oil has the potential to plunge us back into a bear market for tech stocks.

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