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

To: H James Morris who wrote (26796)	11/18/1998 6:52:00 PM
From: Gary Walker	Read Replies (1) \| Respond to of 164684

It's a free country....so we're free to drop coins down the slots....and we're free to pay for fluff....A fool and his money are soon separated.... Maybe we're the fools for missing the run-up, and bigger fools if we're short this stock at this point. But here's one person who agrees with the bears: "Dow Jones Newswires -- November 18, 1998 Amazon.com -2-: Other Internet Stocks Also Higher Despite the enthusiasm over Amazon's push into new markets, the company is up against intense competition in the electronic-commerce arena. On the book side of the business, German media giant Bertelsmann AG is taking a 50% stake in Barnes & Noble Inc.'s (BKS) online operations, barnesandnoble.com. The companies, both giants in the offline market for books, will each contribute $100 million to the joint venture and plan to take the business public in the coming months. And on the music side of the business, competitors CDNow and N2K are merging to better compete with Amazon. "Everyone and their cousin is selling online," said David Rocker of Rocker Partners. "It doesn't matter what they sell," Rocker added, referring to Amazon, "because everyone else can sell the same stuff." He pointed out that many electronic retailers are seeing their margins get squeezed as they cut prices to compete with each other. After all, Rocker noted, since many of the products that are selling online right now are commodity-type goods and since another store is always just a click - rather than a car ride away - "the only loyalty is to price on the Web." And online shopping agents, which search the Internet to compare prices, are simply compounding this trend. "Is the Net a big, powerful force? Yes," Rocker said. "Will people make money on it? That's debatable." Nevertheless, news of Amazon's new store lifted many Web stocks Wednesday. Yahoo! Inc. (YHOO) was up 13 3/8, or 7.6%, at 190 1/8. Excite (XCIT) was up 1 1/4, or 2.4%, at 53 15/16. Lycos Inc. (LCOS) was up 3 7/8, or 6.4%, at 64 3/8. eBay Inc. (EBAY) was up 18 7/8, or 14.7%, 147 1/2. And Inktomi Corp. (INKT) was up 21 5/8, or 16.4%, at 153 5/8." GW