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

To: Greater Fool who wrote (96085)	3/11/2000 2:16:00 PM
From: Glenn D. Rudolph	Respond to of 164684

Amazon.com (AMZN, $65 3/4, D-1-1-9) 00E d$1.15; 01E d$0.25 Amazon.com management spoke at Merrill Lynch?s eTailing conference in New York yesterday. We came away with the following four key points: 1. Amazon is well positioned to benefit from consolidation in the etailing sector. 2. Amazon now looks at its business in three categories: 1) direct retailing, 2) facilitation of third-party commerce through the Amazon site and, possibly, fulfillment centers, 3) "portal" partners. The latter two are high-margin, information-only businesses that, with Amazon?s 20% reach, could eventually be more valuable than the direct sales business. 3. The "portal" business and distribution business need not always remain part of the same company. 4. International remains a strong focus for 2000. We are maintaining our Buy/Buy rating and $100 price objective on AMZN. We continue to view it as a core holding. We think the stock will continue to be volatile and trend higher long term. (H. Blodget) Bulletin United States 10 March 2000 Investor Support Group Intra-Day Special Call AMZN Merrill Lynch & Co. Global Securities Research & Economics Group Global Fundamental Equity Research Department RC#11207023 Research Summary