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

To: Jeff Mills who wrote (8262)	7/1/1998 2:34:00 PM
From: Oeconomicus	Read Replies (4) \| Respond to of 164684

...these are PROPERTIES. It's like buying real estate... Wrong! The "property" you own is a brand name and a share of a product market, just like all the companies Khalil mentioned. Real estate, except certain oceanfront properties, doesn't just evaporate, but market share and brand value can. Real estate's value might, of course, rise and fall dramatically, so if that's your analogy, consider what happens when a market gets overbuilt - in other words, when competitors enter your once exclusive domain. First, occupancy weakens, then rents (margins), then valuations. Then, sometimes, lenders come to own the property. The list of "leaders" from the early days of PCs, workstations, computer games and software, household names at the time, who disappeared in relatively short order is long. You own a brand and, yes, you can overpay for even a leading brand. Ask Quaker Oats.

To: Jeff Mills who wrote (8262)	7/1/1998 3:19:00 PM
From: Satellite Mike	Read Replies (1) \| Respond to of 164684

It's very clear to me now that the analysts and brokerage houses of Wall St. have no integrity at all. After comparing the (lack of) income statement and balance sheet of AMZN and its competition, it's easy to see who's really winning. AMZN has not even proved they can make a profit, yet hundreds of millions are added to the stock almost daily? Not a single top-ranking analyst will come out and say that it is a strong sell. How unfair for companies that really achieve and are really profitable who's stock moves sideways for years.