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

To: Glenn D. Rudolph who wrote (4565)	5/20/1998 2:19:00 PM
From: Mark Fowler	Read Replies (1) \| Respond to of 164684

Latest from the Motley Fool: "A company priced at its intrinsic value is priced such that its total return over a given time period in the future will be equal to the return of the market in general. This is an assumption I make in my somewhat controversial columns on Amazon.com (Nasdaq:AMZN - news) . I argue that its current price/sales and price/earnings ratios are irrelevant, because the market is not discounting those numbers -- it is discounting the future financials. Of course, the market is only guessing at how the company will do, while I make no claim whatsoever as to whether the company is priced above, at, or below its intrinsic value. According to the data Siegel presents, the market can overprice favorite stocks, but it can also severely underprice other investor favorites. Intrinsic value is not easily calculated."