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Technology Stocks : Exodus Communications, Inc. (EXDS) -- Ignore unavailable to you. Want to Upgrade?

To: KM who wrote (478)	4/28/1999 8:54:00 AM
From: Duke	Respond to of 3664

Paul Meeks, Senior Portfolio Analyst, Merrill Lynch EBAY, AMZN, YHOO, AOL, EXDS From: Maribeth Miller Date: 4/27/99 Time: 11:15:38 AM Remote Name: 209.224.198.13 Comments Paul Meeks, Senior Portfolio Analyst, Merrill Lynch EBAY, AMZN, YHOO, AOL, EXDS Meeks calls EBAY's last Q performance "Awesome." Auction-style business in general has taken the world by storm and EBAY has a "first of market" advantage. No special infrastructure is necessary. EBAY puts wares on the table. People go to the site and transact. Did about $540M of transactions in the quarter. Analysts were expecting $200M less. EBAY takes a piece of every transaction off the top. Great business model with a lot of operating leverage. Butterfield deal allows EBAY to get into higher price tag items. Wonderful opportunity for EBAY growth. AMZN is getting into the auction business. Will be a fierce competitor, but EBAY has the advantage. You can't use conventional methods to value a stock like this, just based on qualitative means-the theme that's taking over the world. His portfolio also includes YHOO, AMZN, AOL, EXDS. Just have to buy these stocks on the dips-on the big, big dips, like April 19.