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

To: Tom D who wrote (2739)	4/2/1998 7:36:00 PM
From: Glenn D. Rudolph	Read Replies (1) \| Respond to of 164684

If you think you know enough to bet against this sea change in modern society you are either very knowledgeable, or risk tolerant, or both. I am both. Amazon is no different than any other company that has been driven by momentum. There are no fundamentals to support this price and I believe that is not in dispute by many. Glenn

To: Tom D who wrote (2739)	4/2/1998 9:11:00 PM
From: FrankInNYC	Respond to of 164684

Tom, how should we measure AMZN's worth? It is obvious P/Es using forward earnings or trailing, have no meaning. Because AMZN promises to make 2 cents a share in 2 or 3 years? That's alot of faith to put in a company that can't even meet this quarter's projections of a 46 cent LOSS. It's going to be a 49 cent loss, and the market is rewarding it with a 10 point gain in 2 days. Measure AMZN the same way you measure the worth of art or a Mickey Mantle baseball card - it's worth as much as the next sucker is willing to pay for it, whatever is in the eye of the beholder. What did Gordon Gekko in "Wall Street" say to Bud Fox about that painting on his wall - something to the effect of the "illusion has now become reality"? Punish a solid, dominant company like Intel or Compaq for missing by 2 cents, but reward a startup with NO reputation for earnings which misses its earnings (even projects bigger losses in future) by running its stock through the roof.

To: Tom D who wrote (2739)	4/2/1998 9:23:00 PM
From: dumbmoney	Read Replies (1) \| Respond to of 164684

<< Maybe multiples of 1999 earnings are the wrong tool.... ...for assigning a value to AMZN. Who knows when such a pedestrian yardstick will be meaningful for internet stocks? >> Ever heard the term "profitless prosperity"? That's Amazon's past, present, and future. Lots of sales, no profits.