|
Greg, AOL's growth has been explosive, and that is the reason for the surge in stock price. These other things, the S&P, the movie, etc, are consequences rather than cause of the stock appreciation. AOL is growing at the current rate of 1M per month, which would double the subscriber base by the end of the year. And this is roughly the rate at which internet traffic has been growing, so this is not an anomaly. Furthermore, explosive growth follows an S-curve, and I suspect AOL is going up the steep part of the curve and will grow explosively for a while yet before it flattens out. Because of that, I would not be surprised to see a triple in 99. Of course, there is the question of the broader market, the Y2K question, and on and on. But as long as AOL's fundamentals don't change, these will be opportunities to accumulate, not reasons to sell. |
