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

To: H James Morris who wrote (30187)	12/16/1998 7:38:00 PM
From: Tradegod	Respond to of 164684

Amazon.com Market Value More Than Alcoa, Intl Paper ) Seattle, Dec. 16 (Bloomberg) -- Amazon.com Inc.'s market value surged past the value of Dow Jones Industrial stocks Aluminum Co. of America, Caterpillar Inc. and International Paper Co. as the No. 1 online bookseller's shares rose to a record. Amazon rose 46 1/4 to hit a record 289 today and its market value topped $15 billion. That's about $400 million more than the market value of Caterpillar, the largest maker of construction equipment, and about $2 billion more than the market value of Alcoa, the world's top aluminum manufacturer, and International Paper, North America's largest paper-products company. Seattle-based Amazon's shares rose 19 percent after CIBC Oppenheimer analyst Henry Blodget more than doubled his 12-month price target for the stock to $400 from $150. The Web-based bookseller had sales of $147.8 million last year, compared with Alcoa's sales of $13.3 billion, Caterpillar's sales of $18.9 billion, and International Paper's $20.1 billion. Amazon.com shares have soared more than eightfold this year as investors bet that more people will buy books, videos and recorded music from the top online retailer, although the company is expected to lose money through 2000, based on the average estimate of analysts surveyed by First Call Corp. ''I don't think Amazon will earn enough money to ever justify the stock price,'' said Sandi Lynne, fund manager at Hemp Lane Ltd. Partners, based in Milford, Pennsylvania, who manages $13 million in investments, including a number of Internet stocks. ''None of the bookstores are fabulous growers or earn enough money for this valuation. ''That said, I've spoken to 40 investors today about Amazon.com's stock and everyone who doesn't own it is ill,'' said Lynne, who also publishes wallstreetinadvance.com. ''Hand me my Prozac.'' Story illustration: For a graph of Amazon.com's stock price, type: AMZN US <Equity> GP D