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Technology Stocks : America On-Line (AOL) -- Ignore unavailable to you. Want to Upgrade?

To: HG who wrote (4809)	2/10/1999 1:07:00 PM
From: RocketMan	Read Replies (1) \| Respond to of 41369

Some AOL highlights from the tech conference: Michael Kelly, chief financial officer of America Online (AOL), said the online network will continue to grow by adding subscribers and increasing advertising and e-commerce revenue. "Brand value and convenience" are driving consumer demand, he told an overflow crowd at the Goldman Sachs symposium. The growth in e-commerce dollars from retailing partners is most significant. The company's international presence is strong, and it's expected to grow over time, he said. It added 1.6 million new subscribers in the fourth quarter and 1 million so far in 1999; the total is now 16 million members. Users spend an average of 54 minutes per day online. America Online topped the recommendation list of fund managers speaking at the Goldman symposium Tuesday. "They've got a pretty good model for world domination," said Jim Cramer of Cramer Berkowitz. Bill Miller of Legg Mason said AOL could have an operating margin of 30 to 50 percent within 10 years and that its stock could quadruple by then. Miller praised AOL President Bob Pittman for treating AOL as a media company rather than a technology company. Fund managers including Cramer, Miller and Roger McNamee of Integral Partners disagreed over the outlook for tech stocks. Cramer said he was cautious; McNamee described himself as bullish on the sector.