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Technology Stocks : eBay - Superb Internet Business Model -- Ignore unavailable to you. Want to Upgrade?

To: Doug Fowler who wrote (2231)	3/13/1999 8:30:00 AM
From: Tom Hua	Read Replies (1) \| Respond to of 7772

Doug, my estimates of EBAY future revenues came from analysts consensus estimates of total internet auction business in the year 2000. They predict a triple in 2000 compared to last year. Your estimate basically calls for a 12 fold-increase over the same time span. Sure they can be wrong, you and I and my 2-month old son can pick numbers out of thin air and be just as wrong. However, until the actual data have come in, most investors and institution money managers must rely on WS published forecast to push pencils and make investment decisions. Based on current forecast by WS analysts, EBAY will do about $176 MM in revenue in 2000. Your assumption of a constant growth rate is not justifiable. It's natural to have large growth rates when a company is starting out, but the numbers will level off. Regards, Tom