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

To: Sam Citron who wrote (19454)	10/1/1998 2:12:00 PM
From: Bill Harmond	Read Replies (3) \| Respond to of 164684

>>The young analysts who cover AMZN have no historical experience or insight with which to fairly value such tulip bulbs in a normal market and do not dare cry "The emperor has no clothes" although they know it in their hearts. They share a common error of projecting early astronomical sales growth trends into infinity and letting disappointed stockholders pay for their education. Not true, Sam.

To: Sam Citron who wrote (19454)	10/1/1998 2:24:00 PM
From: Rob S.	Respond to of 164684

Good points. I gave up on spending much time on fundamental analysis because that is not what is primarily driving the stock price. It is more the retail brokerage push (due to ipos or whatever) and current feeling for the internet. E-commerce will continue to grow at a rapid pace for years to come but the fact that Amazon will increasingly lose market share to competition and that margins will not be high enough to justify the current price will not become so apparent that it can't be ignored won't happen entirely for several months, IMO. That's basically why I think the stock will drop to lower levels but will not move to 10-15 where it should be priced based on current performance.