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

To: Been-Shinn Tsung who wrote (2702)	4/17/1999 12:56:00 PM
From: Jing Qian	Read Replies (1) \| Respond to of 7772

You can say eBay is way overvalued. But based on what? P/E? Market value? I would say eBay is way way undervalued based on the market size, the potential of its future growth. Plus the scalability of the digital economy. eBay only penetrated about 1% of potential US auction market. With the proliferation of E-commerce, non-fixed pricing commerce is going to dominate, and probably replace the old Wal-Mart model. In the US alone, eBay has huge room for growth. Now consider the world, eBay can duplicate itself in Australia, Japan, UK, everywhere, how about China with 10 billion people? So, eBay may be extremely undervalued. Amazon.com does compete with eBay. But eBay is a specialist and Amazon is a generalist. The market is big enough to accommodate 2,3 or even 4 big players. Just like there are Wal-Mart, Sears, and Costco. eBay will be a big winner, but of course, not the only winner.