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

To: KeepItSimple who wrote (34876)	1/14/1999 10:07:00 AM
From: Platter	Respond to of 164684

Internet stock guru braces for '99 Oppenheimer's Henry Blodget talks about his surprising Amazon.com report, holds forth on AOL and Yahoo! and lets us in on what's coming. By Eneida Guzman Let's face it. A lot of people thought Henry Blodget had lost his mind in cyberspace last month when he raised his target price on Amazon.com (AMZN) from $150 a share to $400. But the market clearly thinks otherwise. In fact, comments by the CIBC Oppenheimer Internet/New Media analyst catapulted the online retailer's stock more than 40 points in a day, and it has barely slowed to catch its breath since. Adjusted for a subsequent 3-for-1 stock split, Amazon.com has since traded as high as nearly $600 a share, and is still well north of that $400 target. So what's ahead for Internet stocks in 1999? "Given the run-up that these stocks have had, we wouldn't be surprised to see them pull back 25% to 50%," Blodget said in an interview. The 32-year-old analyst added that while he remains optimistic on the group, he "wouldn't bet the farm on any of these stocks" given current valuations. from MSN