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

AMZN 229.10

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To: Glenn D. Rudolph who wrote (141624)	4/19/2002 11:58:50 AM
From: H James Morris	Read Replies (1) of 164684

>>Last Update: 11:28 AM ET April 19, 2002 SAN FRANCISCO (CBS.MW) -- Back in 1999, many believed companies would be outsourcing their Internet infrastructure and they'd do it overnight. That's what drove the valuation of Akamai to $20 billion one month after going public that year. Fast forward: It's not happening the way we expected. "Are we ready for this gigantic migration to Web outsourcing?" asked Adam Holiber, an analyst at Wedbush Morgan Securities. "Not yet. We're still waiting." Akamai (AKAM: news, chart, profile), which derives about 85 percent of its sales from a service to help speed up the delivery of content, announced its quarterly results late Thursday that were in line with estimates, but brought down its revenue goals in the current quarter to about 8 percent below analysts' expectations. Its outlook remains "challenging," wrote Sanjay Puri, an analyst at Thomas Weisel Partners. Akamai remains a "show me" stock. Shares of Akamai fell 12 percent to $3.63 Friday, and it now carries a market valuation of about $419 million.

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