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

AMZN 229.12

-0.2%

3:59 PM EST

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To: Bill Harmond who wrote (38204)	2/5/1999 12:28:00 PM
From: H James Morris	Read Replies (1) of 164684

William in the feb 8th issue of business week page 87, there's an article about the "Valuing those Internet stocks". It appears that Ron Elijah, manager of the Robertson Stephens Information Age fund, owns Amazon, Aol and Yhoo. America's dream team, but not eBay. The article goes on to ask. If everyone's so sure there's going to be a correction in Net stocks, why invest now? Not everyone should. Buying Internet companies with loopy valuations is a gamble. As long as companies such as eBay trade at as high as 2,000 times expected 1999 earnings, you might as well buy a lottery ticket. Shares in companies that show even the slightest problems stand to get decimated. "These are virtual casino stocks", says T. Rowe Price's Morris. I got out of the casino yesterday. I just didn't feel lucky. Do you?

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