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

AMZN 229.12

-0.2%

Nov 26 3:59 PM EST

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To: Lizzie Tudor who wrote (148581)	10/8/2002 9:23:01 PM
From: Oeconomicus	Read Replies (2) of 164684

Ralph's definitely into tea leaves - he's probably basing that $2-$4 range on some ancient area of accumulation. Of course, he may also have no real basis for it - these TA guys are good at not letting themselves get pinned down. Fundamentals don't support it, unless you think Intel's earnings are going away entirely. Rather late in the year, the consensus is still for 53 cents of EPS for INTC (it's 75 cents for next year). That gives them a 25 PE at today's close on what for their industry can only be described as a recession-like earnings trough. I don't know what the future holds for Intel, but I don't think it's earnings of a few pennies a share (or less) next year. Bob

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