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Technology Stocks : America On-Line: will it survive ...?
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To: Joe Gleason who wrote (624)11/17/1996 7:31:00 PM
From: Bharat Bhatia   of 13594
 
Hi Joe! I enjoyed your last line on telling someone you don't like to
buy AOL. AOL has a very poor balance sheet and the valuation of the stock is simply too high at these levels. Brokerage upgrades could still drive this stock to the stratosphere as a lot of them would like to see it to go higher. I don't understand Barron's- Until now they were so bearish on most high techs raising questions about PC sales and especially AOL which was their favorite pan. Now all of a sudden they seem to like every high tech stock there is.

I am not too familiar on most telco's but if they have a so so balance sheet and relatively high stock price I wouldn't have a problem shorting their stocks.( Although on AOL I prefer puts because it's such a momentum stock.) Internet business is simply too competitive and unprofitable requiring a lot of cash and an uncertain future. There won't be many winners.
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