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Technology Stocks : Amazon.com, Inc. (AMZN)
AMZN 229.94-0.8%2:14 PM EST
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To: Jay8088 who wrote (22221)10/19/1998 3:50:00 PM
From: Rob S.  Read Replies (2) of 164684
 
The perception that Amazongonenutty.com is worth this high price is all based on the miracle that they will become the WallMart of the internet - and achieve higher margins than traditional merchants at that. This gross speculative assumption can't be seriously tested until some competition is allowed time to challenge it. The internet is JUST STARTING to look interesting to large, successful companies such as Bertelsmann and Wall Mart. Although it is still a great way to flush money down the Internet pipeline, the potential for eventually making some profit is closer and the market has grown to substantial numbers to justify large capital and resource expense.

I have thought that it will be until around the middle of next year before the underlying midth the envelops this stock realy starts to corrode and the stock collapses to much lower levels. Until then, the hype factor is alive and well and largely undisputed (logic doesn't work as an argument).
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