Frederick Moran Despite Quotations

Having faced no significant competition so far, Audible has not been able to sustain a profit despite reasonably good revenue and subscriber trends, ... could much more efficiently build and launch their own sites.

We saw real upside surprise in the revenue number, and I think that will help the stock. The second-quarter report shows that despite the seasonality of the Web business, there is no slowdown at all in the revenue growth rate.

The Internet stocks have been under pressure since mid-March. The Internet, as a group, is down more than 50 percent. Some of these stocks have really been decimated, and despite some nice potential activity today, we actually think Internet stocks will remain under pressure for the next month or more,