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

To: Miche Elle who wrote (55195)	5/5/1999 7:55:00 AM
From: Glenn D. Rudolph	Respond to of 164684

Internets ease, Amazon.com <AMZN.O>off on comments NEW YORK, May 3 (Reuters) - Internet shares sagged Monday in early trade amid profit-taking and worries about retailer Amazon.com Inc. <AMZN.O>. The American Stock Exchange's 50-share Internet index <.IIX> fell 7 points, or 2.1 percent, to 325 points, continuing a recent slide. The index fell 7 percent last week after hitting a record close April 26. Analysts said Internet stocks were hurt by profit-taking and investor worries about valuations in the mercurial sector. "Investors need to take a moment and ... evaluate their holdings and make a judgment about what is truly most important -- which company has the true potential for earnings," said George Rodriguez, senior vice president for equities at Guzman & Co. in Jersey City, N.J. He said comments in Barron's financial newspaper over the weekend were hurting Amazon.com and other Internet shares. The Seattle-based Web retailer jolted the sector last week when it warned that it expected to see deeper losses for the next two years. Barron's columnist Alan Abelson wrote that, at twice forward sales, Amazon.com was worth less than $25 a share. At one time forward sales, it was worth less than $12, which is just under its year low price of 13-1/4. Its year high price was 221-1/4. "Will Amazon ever make money?" Abelson wrote. "We were -- and are -- doubtful." Elsewhere in Barron's, a poll of nearly 200 portfolio managers showed that 75 considered Amazon.com the market's most over-priced stock. Another 48 felt the same way about America Online Inc. <AOL.N>. Amazon.com lost nearly 40 points last week. It fell further Monday, easing 13-12/16 to 158-5/16. America Online was off 5 at 137-3/4. Among other Internet commerce stocks, auctioneer eBay Inc. <EBAY.O> fell 10-1/4 to 197-7/8 and CMGI Inc.<CMGI.O>, which develops and runs internet and direct marketing companies, dipped 8-13/16 to 244-3/4. The Dow Jones index of electronic commerce shares <.DJECOM> was off 3.3 percent. The Dow Jones gauge of Internet service stocks <.DJISVC> sagged 2.45 percent. 859-1879)) REUTERS