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Technology Stocks : eBay - Superb Internet Business Model -- Ignore unavailable to you. Want to Upgrade?

To: SouthFloridaGuy who wrote (603)	10/30/1998 6:22:00 PM
From: fedhead	Respond to of 7772

AOL has advanced 30 points in the last couple of weeks. Obviously it needs to take a breather for some time. Doesn't mean it is on a down trend and should be shorted. Anindo

To: SouthFloridaGuy who wrote (603)	10/30/1998 10:47:00 PM
From: BomboochaBoy	Read Replies (2) \| Respond to of 7772

eBay may be overpriced, but Keith Benjamin expects a little more down the road. internetstocks.com Keith Benjamin, BancBoston Robertson Stevens, Internet Stocks report Oct. 30 EBAY - THE FRIENDLY GHOST - eBay reported Q3:98 revenues of $12.9 million and EPS of $0.05, significantly above our estimates of $10.1 million and $0.02 per share. The underlying numbers are already big, in our view. Gross merchandise sales for the quarter were $195 million, up 40% sequentially. The number of registered users in the quarter increased by 49% to 1.26 million. The number of auctions increased 39% to 9.2 million. The question is how many people will try to trade on-line, relative to the estimated $100 billion market for collectibles market. We believe this untapped market can sustain multiple competitors, but as in other e-tailing categories the prize for first place will be many times rewarded by investors. We believe there is some room for Yahoo! and others to compete, but we expect eBay to remain steps, if not leaps ahead. We expect we are at the very early stages of growth, as few people know about eBay. It is just starting to ramps up its off-line advertising, including both print, radio and television ads. We expect the advertising campaign can help the company and the stock over the next few months. Is eBay worth as much as Amazon.com? We believe eBay's market size may be comparable and view its business model is already much more profitable, based on fees, not gross margins. eBay also appears to have less competitive pressure. As such, we believe eBay's stock may reach beyond Amazon.com levels, suggesting eBay's stock could pass the $140 mark.