Why are we downgrading the stock now Mainly because of our belief that sales may not be advancing at the rate that we had previously anticipated and also because of the impending departure of Galli.
More Quotes from Tom Courtney:
Worldwide Internet retail sales were almost 23 billion in 1999 and we expect that to double in 2000. Street estimates for worldwide sales in 2002 are approximately 105 billion, with 65 billion of that in the U.S. This implies an annual growth rate of 80 percent worldwide.Tom Courtney
Has Wall Street paid too much for Amazon Investors bid the stock up too much in anticipation of it growing faster than it's going to grow. But if Amazon keeps executing and making progress in keeping costs down, it can still work.
Tom Courtney
Is it 15 billion because of the collapse of the business-to-consumer market or it is 15 billion because sales growth slowed down by 50 percent in the last two quarters Probably, it's a little bit of both, but I think it's more of the latter.
Tom Courtney
At a point when many other e-commerce companies are struggling to reach breakeven, eBay has demonstrated that it has a materially different and better model, which is driving exceptional growth both in sales and earnings,
Tom Courtney
Although it may have one last run going into the holiday period, we believe that Amazon has several red flags that demand investor attention.
Tom Courtney
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