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Technology Stocks : America On-Line: will it survive ...?
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To: Sam who wrote (6159)12/3/1997 5:10:00 PM
From: Steve Robinett  Read Replies (1) of 13594
 
Sam, You're right people either love this stock or hate it. In either case, the emotional component distorts people's view of the company, obviously including my view as well. As you know, I'm bearish on AOL's long-term prospects, an out-moded business model groping for a way to make a living. At my most generous, I give AOL a valuation of about $63/shr but due to the uncertainties of the company, the current $82 is justifiable--but $100/shr or $125/shr! Without some change in AOL's business, those seem to me to be simply silly numbers.
Best,
Steve
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