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Technology Stocks : Amazon.com, Inc. (AMZN)
AMZN 230.84-0.7%Dec 31 3:59 PM EST
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To: Bill Harmond who wrote (12361)8/3/1998 1:33:00 AM
From: Rob S.  Read Replies (4) of 164684
 
OK, Amazon.com expects lower margins, slower growth in sales, increased competition by Barnes & Noble and Borders. This is what the company has said. They have warned that there they will need to spend increased amounts to build inventory and facilities and have no current plans to expand markets outside of their core areas of books, music and video. Amazon also warned that this quarter's sales will be flat to marginally improved over last quarter. Although showing a substantial gain over last year, this is expected to be the first quarter in the company's history that sales will not be up considerably from the previous quarter. I hope you do read the posts and articles that point these details out.

Contrast that reality with what is needed to justify the current stock price, even if you imagine that we are now in the year 2000. Amazon.com isn't worth $60 in the year 2000 by the concensus sales and earnings estimates.

Amazon.com stock is a speculator's popularity contest. You like the promise of the internet and the figment of imagined profits and earnings. This is just a retail merchant company. They aren't even a Real Audio or Vsio, let alone a future Microsoft than many of imagine - just a simple five and dime store. Soon you may be able to buy condoms and tampons there too. Amazon.con does not own much of anything but a fleating bit of excitement.
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