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

AMZN 229.10

-1.4%

Dec 4 3:59 PM EST

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To: Mark Fowler who wrote (29856)	12/16/1998 10:17:00 AM
From: H James Morris	Read Replies (4) of 164684

>>Seattle, Dec. 16 (Bloomberg) -- Shares of Amazon.com, the No. 1 online bookseller, surged as much as 17 percent to a record after CIBC Oppenheimer analyst Henry Blodget more than doubled his 12-month price target for the stock to $400 from $150. Amazon.com rocketed 38 1/4 to 280 in early trading of 2.98 million, giving the Seattle-based company a market value of $14.67 billion. Earlier, shares touched 284. Rival bookseller Books-A-Million Inc. gained 3 1/4 to 13 5/8. Amazon.com shares have soared more than ninefold this year as investors bet that more people will buy books, videos and recorded music from the top online retailer. The company opened music and video stores this year and last week unveiled an Internet shopping-referral service that lets customers compare prices for goods ranging from shoes to laptop computers. Blodget wasn't immediately available to comment. <<

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