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

AMZN 229.12

-0.2%

Nov 26 3:59 PM EST

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To: Mark Fowler who wrote (30100)	12/17/1998 12:30:00 PM
From: Rob S.	Read Replies (3) of 164684

Oppenheimer brokers were pushing the stock at least five trading days prior to the raised target. We received their analysts report which stated that their 150 price target was under revue, which when taken in the context of the broker's statements strongly suggesting that it would be raised significantly. Op. was soliciting my associate as a new client. How sweet it is - these pigs at their feeding frenzy! Now Merrill reiterated a "reduce" rating and a 12 month target of 172 - saying that it was very risky at this price. You would expect that Cohen (Merrill) and Blodgett & Anning (Op.)have both talked recently to Amazon and are aware of the various developments that will effect the company and estimates of future sales and profits. So why such a vast difference of opinion? It could be that Cohen is looking past the current explosion in sales and market developments and is starting to see competition have an effect on Amazon's future. Blodgett sees what is in front of his face (like fat commissions and new clients for Op.), but ignores the early gains in sales that appear to be happening at Barnes relative to the Amazing one. --------- One more anecdote: "The Business Week Contrarian Market Indicator" has just hit the streets - a cover story featuring Amazon. To a high degree of accuracy, cover pages on Business Week have called the tops to bull markets in many stocks. The logic of the Contrarian Indicator is that by the time a company quickly rises to prominance to be placed on the cover of B.W., just about everybody who might be interested in investing in it is now aware of it and there is no where for the stock interest level to go but down.

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