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

AMZN 217.15

-2.5%

3:59 PM EST

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To: Rob S. who wrote (9603)	7/8/1998 9:15:00 PM
From: Alan Newman	Read Replies (1) of 164684

Here's an interesting news report on Yahoo "beating expectations": biz.yahoo.com My guess is that we see a downgrade on YHOO to hold based on valuation. Excerpt: But some analysts issued a note of caution that these latest stock price gains may not be justified. ''If you didn't know what Yahoo!'s stock price was, it was a great quarter,'' said Keith Benjamin, an analyst with BancAmerica Robertson Stephens in San Francisco. But as he noted, Yahoo!'s stock has already risen very far very fast. Since its last earnings report in April, Yahoo!'s stock price has doubled. It is currently trading at more than 10 times the $19 a share at which it went public on May 31, 1996. Benjamin maintains a ''buy'' recommendation on the stock, but said the latest earnings were ''not that much of a positive surprise'' that further gains in its stock price would be justified. ''I will be shocked if it is up much more tomorrow. I will be relieved if it is flat to down,'' he said.

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