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Technology Stocks : Amazon.com, Inc. (AMZN) -- Ignore unavailable to you. Want to Upgrade?

To: Glenn D. Rudolph who wrote (89823)	1/5/2000 12:20:00 PM
From: H James Morris	Read Replies (2) \| Respond to of 164684

Glenn, even a Seattle baby elephant has left Amazon.com. > Seattle, Jan. 5 (Bloomberg) -- Steven Tuen, co-portfolio manager of the $1.2 billion Internet Fund, comments on Amazon.com's sales and results. The Internet retailer said fourth-quarter sales more than doubled to about $650 million, though that still was less than some forecasts. It warned also its loss will widen because of inventory-related charges. On sales: ``Certainly the numbers show that Amazon's focus on the top line is coming to fruition. I believe the expected fourth-quarter numbers will be as large as their 1998 revenue numbers.' On earnings: ``On the other side, they still expect large losses and that is where investors have increasingly concentrated their investment rationale.' ``That's combined with the general rout in tech companies, and you see Amazon being hard hit. On holding Amazon.com shares: The Internet Fund formerly held 120,000 shares, but sold them beginning last summer: ``It's not a stretch to say that Amazon will be around for a long time, but in terms of the returns to investors, the risk reward ratio was not there for us.' Jan/05/2000 11:42