12-Jun-98 |
point change |
% change |
|
ISDEX |
133.35 |
-1.52 |
-1.13% |
ISDEX Price Wtd. |
1,403.38 |
-10.47 |
-0.74% |
NASDAQ |
1,745.05 |
-4.70 |
-0.27% |
DJIA |
8,834.94 |
23.17 |
0.26% |
We think the 15% jump June 11 to $62.50 per share was overdone but that if Amazon can match in music what it’s done in books that Everen could be not hearing the music. Its downgrade focused on book sales.
Our analysis over the years of the music industry shows that we forecast about 10% of music sales could be through the Web in 36 months, or more than $2 billion. Biggest threat to Amazon is the music labels, they don’t need middlemen to reach buyers on the Internet.
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