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

AMZN 229.60

+1.5%

Nov 25 3:59 PM EST

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To: Glenn D. Rudolph who wrote (57290)	5/18/1999 10:10:00 PM
From: Bearded One	Read Replies (1) of 164684

Glenn, that type of view is what keeps these stocks up at such a ridiculous market cap. Nobody here can give an explanation of why Amazon is worth 20 billion vs. 10 billion vs. 5 billion vs. 2 billion. They just go by the mantra (first espoused on the web by the Motley Fool) that a growing dominant company is worth any amount of money. ANY amount of money. These guys would still be buying Amazon if it had a market cap of 100 billion! I've seen this mania before. I saw it on Zitel (high of 71, now at 1 1/2), and I saw it on Iomega (high of 50+, now hovering for months at around 5). Iomega is a telling case. Iomega zip disk sales actually kept growing and growing. Huge profits were always around the corner, once they achieved enough market penetration and 'locked everyone in'. Well, the zip drive has been the # 1 selling removable storage device for a couple of years now. Yet Iomega never turned that corner to real profitability. But up until the end, the Iomegans were confident and sanguine. Likewise, I predict that Amazon will never turn that corner to profitability.

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