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

To: Henry Niman who wrote (92970)	2/4/2000 11:26:00 AM
From: H James Morris	Read Replies (2) \| Respond to of 164684

Henry, when did you come out of the woodwork? I suppose if Amzn had tanked the other day, you have remained incognito. Here's Kiggens piece. When he moved his price target down from 185 to 140. I can't find. And being a DLJ customer, I find that kinda interesting.Hmmm Long on Amzn even though I'm not convinced Bezos doesn't have to worry. Ps Kiggen also has a price target on Eeln of 75. >AMAZON.COM (AMZN: $69.38)*+ 02/03/2000 Amazon.com Reports Strong December Quarter Results; Bullish Guidance On Progress To Profitablity Earnings Per Share Old New P/E Ratios (FY:Dec.) 2000E $(1.10) $(1.05) NM 1999A (1.09) ($1.19) NM 1998A (0.25) Rating: TOP PICK Change: None 12-Mo. Target: $140 Very strong December quarter: $676 million in revenue ($26 million above preliminary results announced on 1/ 5/00) +90% q/q, 167.3% y/y and $89 million above our $587 million estimate; loss per share of ($0.55) vs. our ($0.46) estimate (consensus was ($0.48)), due to inventory write-downs, ($0.43) ex inventory impact. Core U.S. book business was profitable in the December quarter, and will remain profitable throughout 2000. Strong customer metrics: a record 3.8 million customers were added (2.2 times last year's number); repeat customer orders of 73% (up from 72% in Q3), revenue per customer of $116 (up from $108 in Q3) and customer acquisition cost of $19 indicate positive contribution margin on every customer. Positive forward guidance: gross margin improvement throughout FY'00 with overall operating losses expected to decrease to low single digits by Q4'00. Capital expenditures expected to decrease substantially. Raising '00 revenue estimate from $2.7 billion to $2.9 billion, while loss per share declines from ($1.09) to ($1.05). We're raising '01 revenue from $4.3 billion to $4.7 billion, while decreasing loss per share from ($0.91) to ($0.46). We reiterate our Top Pick rating and 6-12 month target of $140. Stock should strongly break out of recent trading range.