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Stock Watch: Amazon Inches Higher Despite Analyst Doubts

By Nora Macaluso
Oct 5, 2000 12:00 AM PT (Nasdaq: AMZN) ended up 15/16 at 36 Wednesday after the e-tail giant announced a new photo service.

Stock Watch: Amazon Inches Higher Despite Analyst Doubts

The stock recovered from an earlier drop that followed reports that Robertson Stephens analyst Lauren Cooks Levitan questioned the company's diversification strategy.

Amazon said its new Camera & Photo store is a product of an alliance with Ofoto, Inc., an online photography service. The store provides photo processing and sells cameras and related products.

Amazon's photo venture follows a similar move by Yahoo! (Nasdaq: YHOO), which last month set up a photo service through a venture with PhotoWorks (Nasdaq: FOTO). Web giant America Online (NYSE: AOL) also has a photo site called "You've Got Pictures!"

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