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Technology Stocks : America On-Line (AOL) -- Ignore unavailable to you. Want to Upgrade?

To: CCR who wrote (27422)	7/30/1999 1:12:00 PM
From: Jeff Dryer	Respond to of 41369

It's ok to nitpick! I've learned a lot over the last several days. >10% share growth per year assumption but presumably they are >awarding enough options annually to result in 5-10% growth unless >they institute a buyback. I don't know if 10% share growth is a good assumption or not... the analysts on Wall Street probably don't know either. Microsoft buys back stock, so it is quite possible that AOL will start buying back stock in the future to a least match the increase in stock from options awarded to employees. I do think AOL will continue to acquire companies which will increase the number of shares outstanding. For example, the Netscape acquisition expanded AOL shares outstanding by about 10%.