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Technology Stocks : AUTOHOME, Inc -- Ignore unavailable to you. Want to Upgrade?

To: Solid who wrote (23893)	7/25/2000 1:03:30 PM
From: Michaelth1	Read Replies (2) \| Respond to of 29970

Solid: <The market and many ignorant analysts assume ATHM competes with AOL. They DO NOT. ATHM is not just an ISP. They are a network backbone with an ISP portal called Excite. By nature, for cable BB you don't just get a computer, plug in a phone line and advertise as an ISP. You build a new network with new technology and that takes time and money and has inherent risk and challenges. I could go on and on about this aspect to differentiate it for you, but that would be disrespectful of the years of effort stored within this threads history. Get a BB connection and read some of it. > I didn't say that ATHM only competes with AOL. It also competes with Doubleclick (via MathLogic) and competes with (or should compete with--that's a whole other discussion) fiber companies that provide capacity. But with respect to AOL, they compete. ATHM has to convince an AOL user to abandom AOL (or at least pay for AOL on top of ATHM), buy new equipment, arrange an installation, etc. That's competing. Or isn't ATHM going after AOL's 25 million users? Analysts won't "get" ATHM until ATHM has the ability to shove the numbers (e.g., revs, subs, earnings, e-commerce, etc.) in front of an analyst.

To: Solid who wrote (23893)	7/25/2000 2:20:12 PM
From: Elsewhere	Respond to of 29970

A recommendation of ATHM in a II article: biz.yahoo.com Tuesday July 25, 9:15 am Eastern Time Individual Investor Internet: How to Pick Portal Stocks Greg Bartalos (07/25/00) U2's ``I still haven't found what I'm looking for'' could be the anthem for legions of frustrated Web surfers too. As the amount of content on the Internet increases daily, it is becoming harder for Web users to find what they are looking for. In response, a variety of search engine technology companies have cropped up, most distinguishing themselves by offering unique technologies or differentiated approaches to finding and cataloguing information. This abundance of choice makes the job perplexing for investors too. For simplicity's sake, in this article we will specifically analyze some of the largest portals and handicap their attractiveness as investments. For perspective, let's first look at the ones most visited in May, according to Media Metrix: 1) Yahoo.com (48 Million unique visitors) 2) MSN.com (39.3 M) 3) AOL.com (32.1 M) 4) Lycos.com (27.5 M) 5) Go.com (21.1 M) 6) Netscape.com (19.4 M) 7) Excite.com (17.5 M) 8) AltaVista.com (13.7 M) 9) Snap.com (10.8 M) 10) AskJeeves.com (9.9 M) ... Excite@Home Excite.com is part of Excite@Home (NASDAQ: ATHM), an Internet content and service provider. Last week it announced a second quarter pro forma loss of $45.3 million, or a loss of $0.11 per share, which was a penny per share narrower than expected. Its media properties averaged 137 million page views per day in June, down 5% sequentially from March. Excite@Home increased its high-speed cable modem Internet access membership to 1.8 million from 1.5 million in the previous quarter. Estimates called for membership to reach 1.9 million. Excite@Home blamed a factory fire for a shortage of modems. The company has more than $380 million in cash and is a major player in the high-speed Internet access market. Excite@Home could be an attractive takeover target for a large media company looking to deliver content via high-speed Internet. And consolidation is certainly in the air, evidenced by CNET Networks' (NASDAQ: CNET) recently announced $1.6 billion acquisition of Ziff-Davis (NYSE: ZD). For the last two months, Excite@Home's stock has been hovering just above its 52-week low of $15.88, making it more affordable to a potential suitor. For long-term investors, Excite@Home is an appealing way to play the build out of high-speed Internet access, but in the near-term the stock will probably trade roughly in line with the Nasdaq Composite. To be clear, Excite@Home is not a pure portal play. ... Bottom Line: We recommend Yahoo! and like Excite@Home as a long-term investment, but are bearish on Go.com. Ask Jeeves investors should take their cue from the company's second quarter.