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Oct.01
11:05 AM ET
Monday, 1 Oct 2007
Mad Mail: Can Amazon Go Any Higher?
Posted By:Carlo Dellaverson
Topics:Technology | Stock Market | Stock Picks | Mad Mail
Companies:GigaMedia Limited | Cisco Systems Inc | Amazon.com Inc
 |
]. Someone called in last night during the Lightning Round and you said it was an ISP/cable company and that you didn't want any part of it. You said to buy Cisco [CSCO
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] … I ask that you take another look because it’s not an ISP company anymore. While it still has some revenue coming from this piece of the business they are looking to sell it so they can focus on their turnaround story. About two years ago they began building one of the best gaming platforms in Asia…They own one of the largest online poker and casino businesses, primarily in Europe and are expanding into Asia soon. Their growth rate is outstanding and should, if they execute on their plan, grow even faster. I could go on and on about what they do but please take another look and profile it if you think it’s a good idea but please don't misguide buyers or shareholders. --Steve Cramer says: “Steve, you are absolutely right.” After revisiting the company, Cramer realized he was wrong to still consider it an ISP play. “My memory was faulty … I appreciate the input.”
Dear Jim: How can Amazon [AMZN Loading... ()
] go up any higher? Its P/E is at 177. Is it ripe for a correction? Should I wait or jump in now? --JP Cramer says: “You must wait. It was marked up heavily.” He explained that the reason AMZN is going up is simply because its revenues are high and costs are low so “a lot is going to fall on the bottom line.” Analysts raise estimates based on this and that’s what moves a stock, he said.
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