Amazon.com, Inc. (AMZN) Message Board

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

AMZN 220.66

+1.6%

Nov 21 9:30 AM EST

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To: Cap_Loss_Cfwd who wrote (59675)	6/1/1999 5:44:00 PM
From: Wizard	Read Replies (1) of 164684

>> trust me on that!! no can do when you say things like 'the huge expectations of the analysts.' Consensus expectations are far too low. >>pro forma adjustments in the financial statements basic merger accounting. if they were being valued on net income I might offer how investors don't value assets on non-cash items. However, the company isn't being valued on net income so its pointless to argue if expense accounting is aggressive or not. Besides, if its not cash related, 'pro-forma' really doesn't mean anything (except it makes the accountants feel like they are doing something). >>the immense market cap can't argue with that. it is big and currently being adjusted (read, 'creamed'). however, discussing market cap is really another subject. the points in the Barrons article were primarily attacking the business. here I disagree with their points (I don't currently own the stock). The stock goes up and down wildly on investor psychology about how to discount the value that is being created. Down 50% and now closing under the 12/31/98 price seems like we are getting close to enough discounting. However, my next internet purchase is likely to be Yahoo! given that the story is just easier for most to understand; makes money, high ROE etc... and I like the positive psychology of another $.02-$.03 upside to EPS quarter.

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