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

To: H James Morris who wrote (45728)	3/15/1999 2:47:00 AM
From: H James Morris	Read Replies (2) \| Respond to of 164684

Don't sell your Internet stocks because the Europeans have got the bug too. >>March 15, 1999 Markets Diary: Internet Stocks -- Buzz or Berserk? By TATIANA BONCOMPAGNI For good or ill, the Internet buzz is probably driving technology stocks as a whole. Many investors can't resist the idea of picking the next America Online-type star -- the only problem is actually making the right selection. But something happens when everybody is trying to do just that. Analysts say so-called blind investors -- those who don't know much about the tech industry but want a piece of the action -- end up distorting share prices. Distorted or not, prices on European markets are up in general. The Euro.NM All-Share Index, made up of all companies listed on the New Market segments of the Frankfurt, Paris, Amsterdam and Brussels exchanges, soared 51% in the last four months. The pan-European Easdaq market, meanwhile, jumped 28% so far this year. The gain is in part due to initial public offerings of start-ups like NetVision, a Belgian Internet-security company. On its first day of trading, Feb. 10, the share price zoomed from 12 euros to 100 euros -- and closed the day at 45 euros. The tech-heavy Neuer Markt in Germany often feels the sway of individual investors looking for a quick profit, rather than a longer-term investment: Shares on the market frequently triple on their first day of trading. What's excessive speculation and what's rational exuberance is, of course, a matter of opinion. Bert Siebrand, a technology analyst at SNS Securities in Amsterdam, calls it "a very speculative situation at the moment." He thinks Internet hype in the U.S. is contributing to overspeculation in the European technology arena. "The question is, what are these small-cap companies worth ... and how long can it last?" Retorts Peter Thilo Hasler, a tech analyst at Bayerische Hypo- & Vereinsbank: "How can one not be bullish in that market?" He doesn't think the Neuer Markt is overvalued at all. "In most cases, the [high-performing stocks] are world-market leaders in their niches," he explains. Not all tech stocks are up equally, of course. Telecommunications stocks drew particularly strong interest this winter season. The Dow Jones Stoxx telecom index surged 39% in the November-February period, while the Dow Jones Stoxx technology index gained 18%. Two key offerings pumped up the telecommunications sector. On their first day of trading, shares of United Pan European Communications NV, a Dutch cable and telecoms company, rose 26% following its 1.16-billion-euro offering ($1.07 billion). Meanwhile, Equant NV's $3.6 billion secondary offering broke records as a follow-on private-sector sale. So far, it's been a spectacular run for the provider of data-network services. Its share price has nearly tripled since it went public eight months ago. At the end of February, the stock was trading at $72 on the New York Stock Exchange.<<

To: H James Morris who wrote (45728)	3/15/1999 2:55:00 AM
From: H James Morris	Respond to of 164684

From the Seattle Times. Home of the storyteller Jeff Bezos. >>Amazon.com (AMZN, $111) still does not have enough trading history to merit a rating for next 12 months' performance by Value Line. But the investment advisory service warned that the "stock is overvalued for the three- to five-year time horizon, despite the company's excellent revenue growth prospects over the next several years." Value Line's Warren Thorpe said high marketing expenses will result in Amazon.com losses for at least two more years. And competition from several bigger booksellers heading into the online world likely will cut into the Seattle company's competitive advantage. (Report issued March 5) << Wow they're behind the times. When this "Thing" was written Amzn was @ $111 and, it got to $142. See how little these analyst's know?