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Technology Stocks : America On-Line (AOL)

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To: robert duke who wrote (684)	1/1/1999 9:29:00 AM
From: Vendit™	Read Replies (3) of 41369

A good take on Internet stock valuations. NEW YORK, Dec 31 (Reuters) - Both value and growth oriented stock fund managers have been skeptical of Internet stocks given their enormous price-to-earnings ratios, but some are willing to make bets that electronic commerce is the wave of the future. "On the face of it, these stocks look overvalued," said Courtney Smith, chief investment officer and portfolio manager for the Orbitex Group of Funds. "If we assume that a stock represents discounted future cash flows for that company, then these stocks are overvalued. But in fact they are not overvalued if you look at the stocks as a proxy for all future Internet stocks coming to market." marketwatch.newsalert.com

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