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Technology Stocks : America On-Line: will it survive ...? -- Ignore unavailable to you. Want to Upgrade?

To: John Kratus who wrote (6772)	1/9/1998 4:59:00 PM
From: Steve Robinett	Respond to of 13594

John, <<100 might be a little too optimistic.>> Maybe, but AOL has a habit of running up ahead of earnings. This time, there is the potential "split mania," (I like your phrase) and the company's motivation to try for $104/shr to get the holders of the recent debt issue to convert to equity and help clean up the balance sheet for future financing. Taken together, I'm still looking for $100/shr. I recognize that's over a 15% move but, as we all know, when they're pumping AOL, it can put on 10 points in three days. The interesting question, assuming we do get a runup over the next 4-5 weeks, is the extent of a selloff afterwards. Last quarter was very nice. Best, -Steve