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Technology Stocks : eBay - Superb Internet Business Model

EBAY 80.84

-0.2%

3:59 PM EST

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To: Doug Fowler who wrote (2476)	4/4/1999 8:24:00 PM
From: GemSeeker	Read Replies (2) of 7772

Most of the recent posts sound a lot like "whistling past the graveyard." EBAY has enjoyed a phenomenal PE due in large part to owning the online auction market. Amazon's entry changes the landscape in a dramatic manner literally overnite. EBAY's price still reflects a pre-Amazon investor mentality. The continued strong upward price movement that this thread seems to anticipate is impossible IMHO unless Amazon's auction efforts fall flat - a most unlikely scenario given their prior track record. The growth that EBAY's price seems to anticipate will have to come largely from people that currently aren't using any online auction service. Amazon is going to get a very significant share of those new users just because that is where they will first "discover" the whole concept of an online auction. Anyone naive enough to believe that Amazon won't SERIOUSLY detract from wall street's evaluation of EBAY's growth prospects deserves to have their portfolio lightened. FWIW I do not own shares in either stock.

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