Nothing like a self-fulfilling prophecy: Minutes after an early-morning
report from a CIBC Oppenheimer analyst said Amazon.com stock could easily
reach a price of $400 per share, the Street got the hint: By midday, the
stock had shot up 44 points, to 287. There was other good news for the
little bookshop on the router: A Wall Street Journal story noted that
borders.com has been hit with a wave of insider selling -- a sure sign that
people in the know are bearish on their company's future. "People may be
looking at this and deciding that Borders just isn't getting the job done,"
says TIME Wall Street columnist Daniel Kadlec. So far, Amazon has. The CIBC report says the
company has the potential to "generate $10 billion in revenue and
earnings per share of $10 within five years." Especially once the company
starts shipping those "How to Make Money on the Internet" books.
Amazon Shoots to the Moon
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Nothing like a self-fulfilling prophecy: Minutes after an early-morning
report from a CIBC Oppenheimer analyst said Amazon.com stock could easily
reach a price of $400 per share, the Street got the hint: By midday, the
stock had shot up 44 points, to 287. There was other good news for the
little bookshop on the router: A Wall Street Journal story noted that
borders.com has been hit with a wave of insider selling -- a sure sign that
people in the know are bearish on their company's future. "People may be
looking at this and deciding that Borders just isn't getting the job done,"
says TIME Wall Street columnist Daniel Kadlec. So far, Amazon has. The CIBC report says the
company has the potential to "generate $10 billion in revenue and
earnings per share of $10 within five years." Especially once the company
starts shipping those "How to Make Money on the Internet" books.