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Technology Stocks : Altaba Inc. (formerly Yahoo) -- Ignore unavailable to you. Want to Upgrade?

To: Randy Ellingson who wrote (16080)	12/18/1998 3:52:00 PM
From: Smart Investor	Read Replies (2) \| Respond to of 27307

Anybody see this? "Thank you Jonathan Cohen at Merrill Lynch, who in an effort to introduce some rationality told clients in a conference call that Amazondotcom is worth something less than $50 a share. According to Merrill's spokesperson, Cohen reiterated his outlook on the stock -- which has been sober from the get go -- as D439. That's Merrillspeak for "Amazon is high risk, reduce your exposure in the next 12 months, and we're neutral over the long term." Whew. The "9" slot is for dividends, which if you don't earn profits, there are none. "There's been no change in the company's fundamentals that would justify its current share price. At a $16 billion market cap, and nearly 16 times calender 1999 revenue estimates, this stock is not trading on its current fundamentals," Cohen said, adding, ""this is probably the single most expensive piece of publicly-traded equity in the history of the modern market." So much for sobriety. Amazondotcom traded higher than yesterday's close, before finishing the day, off 12 1/4 to 276 3/4." If AMZN is worth less than $50 per share, I guess YHOO's worth is less than $20 per share. After all, AMZN is actually selling something and has decent revenue. On the otehr hand, YHOO's revenue is so small, it is not even worth to talk about. It would have been even smaller if not for Softbank pumping money into it.