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

AMZN 221.56

+2.0%

2:19 PM EST

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To: OtherChap who wrote (24078)	11/1/1998 5:37:00 PM
From: Bill Harmond	Read Replies (2) of 164684

OC these conspiracy theories are rediculous. When it comes to Internet stocks, no analyst gets it right. They can't get a handle on this kind of growth and player shakeout any better than the companies can! They can't rely on customer surveys like they can with enterprise software or hardware companies, so they rely on industry projections from Jupiter or such, and Jupiter has missed the growth by a mile. Then there's the CYA (cover-your-ass) factor. The IR folks at the companies don't want to overstate, and the anaysts don't want to overstate because they have families to feed, so we get mediocre direction. Take for example your market call on Amazon Thursday night. You thought Amazon was going to drop six on Friday. If you had been an analyst, or in this case strategest, with a career to protect, you would have said something like "Amazon's come a long way, so anything can happen."

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