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Technology Stocks : Amazon.com, Inc. (AMZN)
AMZN 222.55-1.6%Dec 15 3:59 PM EST
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To: Herring who wrote (19432)10/1/1998 12:48:00 PM
From: Rob S.  Read Replies (1) of 164684
 
With so few actual results to justify the current price, the stock trades more on the greed and fears of investors than anything else. So when more fear or greed creeps in from the surrounding environment, the stock responds accordingly. Also, AMZN has tracked very well with other leaders in the sector. Some of this is because sector funds tend to buy/sell the group but also because other investors tend to look at the fortunes of the leaders as being tied together. That despite the fact that all Amazon has to show is greatly increasing losses, steeply decelerating sales growth, increased competitive pressures and loss of market share. Meanwhile, AOL's & Yahoo!'s business plans and market position are much different - they are increasing profit levels and reach. You can argue that their stock prices are currently highly speculative, but at least there is something more substantial to back up the speculation.

for the time being anyway, NZMA will trade in correlation to the other "leaders" but I think that coupling will end by the first quarter of next year. It could happen as soon as when this quarter's results are reported. If they show a further decline in sales growth and market share, then AMZN could begin its inevitable, IMO, slide and dissassociation from the leaders.
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