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

AMZN 220.66

+1.6%

Nov 21 9:30 AM EST

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To: KeepItSimple who wrote (30643)	12/21/1998 12:09:00 AM
From: jach	Read Replies (1) of 164684

Merrill Lynch analyst Jonathan Cohen, who has for months maintained a ''reduce'' rating on Amazon, rebutted Blodget's view, saying on Thursday that Amazon's stock could trade as low as $50 in the year or so. ''Amazon.com enjoys almost no significant competitive advantage in a market characterized by razor-thin operating margins,'' he said in a recent report. ''The company's success in generating revenues has come at the cost of very great operating losses, which we expect to continue for a substantial period of time,'' he said. Indeed, Amazon.com's third quarter loss, excluding one-time items, was $0.49 a share, versus $0.21 in the previous year, as marketing and development costs more than tripled. Analysts expect Amazon.com to lose money for at least the next two years. Wheat First Union on Thursday downgraded its rating on Amazon's shares to hold from outperform, citing concens that fourth quarter results may fall short of predictions.

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