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

AMZN 238.95

-2.2%

2:35 PM EST

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To: Skeeter Bug who wrote (10881)	7/20/1998 5:07:00 AM
From: Robert Giambrone	Read Replies (2) of 164684

New York, July 19 (Bloomberg) -- Amazon.com, an unprofitable online bookseller, trades almost two-and-a-half times higher than the stock of rival Barnes & Noble Inc. as investors, such as Paul Sonkin, a money manager and adjunct professor of securities analysis at Columbia University, are drawn to the company's business prospects, said the New York Times. While Sonkin doesn't own Amazon.com shares and is skeptical of its high-flying stock price -- currently at 119 13/16 -- he says the company is appealing because it keeps scarce inventory and it doesn't have to carry the cost of financing it business because customers pay for their purchases before the company does. Still, analyst Keith Benjamin from BancAmerica Robertson Stephens figures the stock should be trading at about $44 a share and says it could fall 10 to 20 percent this week after the company reports its second- quarter earnings Wednesday, which are expected to show bigger- than-expected losses, the paper said. Estimates for Amazon.com's quarterly loss widened to 43 cents from 20 cents, according to First Call Corp., which tracks and compiles analyst earnings estimates. (NYT 7/19 3-4 www.nytimes.com)

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