Citigroup Doubles '08 Amazon (AMZN) Kindle Sales Estimates
More News related to AMZN
- Panasonic Creates Ultimate HDTV and Blu-ray Entertainment Devices With Amazon Video On Demand
- David Moenning's Daily State of the Markets: 01/05
- Notable Analyst Rating Changes 1/5: AMZN, BBY, BKS Upgraded; T, VZ, PCU, BBBY Downgraded
- Amazon.com Launches Inauguration Store
- Amazon Video on Demand Brings Customers New-Release Movies and TV Shows to the Roku Digital Video Player
More News related to Analyst Comments
- Deutsche Bank Downgrades and Lowers Estimates On Global Metals and Mining Companies (RIO, AAUK)
- Soleil Securities Maintains a Buy on Airgas (ARG), Lowers Estimates and Price Target
- Buckingham Research Maintains a 'Neutral' Rating on Wal-Mart (WMT), See Upside/Downside Fairly Balanced
- Wedbush Morgan Maintains a 'Hold' on Majesco Holdings (COOL), Impressed With Progress But Investors Remain Skeptical
- Wedbush Morgan Maintains a 'Hold' on Family Dollar Stores (FDO), Raises Price Target and Estimates
According to analysts at Citigroup, sales of Amazon.com's (Nasdaq: AMZN) e-book reader Kindle appear much stronger than expected.
The firm said, "Although AMZN has not disclosed Kindle sales, our collection of datapoints leads us to double our '08 unit assumption from 190,000 to 380,000. In its first year (2002), that's exactly how many iPods were sold. Turns out the Kindle is becoming the iPod of the book world."
Citi also said Kindle could be the top 'gadget' gift this holiday season and they see $1 billion in Kindel-related revenue by 2010, which is up from the prior estimate of $400-$700 million.
Citigroup is reiterating their Buy rating and $97 price target on Amazon.com.
Related Categories
Analyst CommentsInsiders' Blog
Stocks Mentioned
-1.65Related Entities
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
