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

AMZN 239.26

-1.0%

Jan 30 3:59 PM EST

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To: Victor Lazlo who wrote (137046)	1/15/2002 10:18:31 AM
From: H James Morris	Read Replies (1) of 164685

Vic, what about AOL? >>Why did AOL feel the need to come clean? Last year the company came under fire from investors for sticking by aggressive growth targets long after the economy tanked. Analysts became increasingly skeptical that the targets would be met. AOL originally forecast growth of 30 percent in 2001 for earnings before interest, taxes, depreciation and amortization, then eventually lowered the target to 20 percent. As it turns out, AOL disclosed on the call, it came in just shy of that goal with 18 percent growth. AOL also was expecting double-digit growth in earnings for 2002, but during the call it lowered those targets as well, saying earnings could grow by as little as 8 percent and as much as 12 percent. On Wall Street, it's always better to underpromise and overdeliver. Now that the people who made last year's promises are no longer in charge, especially the chief financial officer, Wall Street is breathing a bit easier.<< seattletimes.nwsource.com

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