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

To: James Thai who wrote (30336)	12/17/1998 2:12:00 PM
From: dennis michael patterson	Respond to of 164684

CRAMER SOLD: this is from his latest column But, more importantly -- and I shudder to mention this again -- many people are short Amazon and Micron. (I love Amazon and Micron, I love Amazon and Micron, I love them -- even though I am not long them.

To: James Thai who wrote (30336)	12/17/1998 2:12:00 PM
From: Platter	Read Replies (1) \| Respond to of 164684

3 downgrades...Amazon.com (AMZN)- Needham & Co reiterates "hold" rating on stock, citing valuation. Based on yesterday's closing price, says stock has a market-cap of $15.2 bln, not including another 10 mln shares in options that are not currently reflected in the fully diluted share count. Including these shares, market-cap would rise by about 20% to $17.9 bln. Says stock trading at 16.9 times projected 1999 revenue of $846.1 mln versus firm's e-commerce universe average of 7.7. In spite of "hold" rating, Needham says it remains a big fan of the company, but cannot recommend it to investors at this valuation level. Wheat First Union downgrades online book and music retailer from "outperform" to "hold" based on price and view that expectations for the holiday season may be getting out of hand; believes that "whisper" revenue figure of $300 mln for Q4 are simply too high; believes stock price is three quarters ahead of itself. Merrill Lynch analyst Jonathan Cohen doing his best Thomas Kurlak impression. According to CNBC, analyst expected to tell clients on 10:00 ET conference call that Amazon.com is only worth $50 per share in his eyes. From Briefing.com