Analyst Concerned with Amazon (AMZN) Kindle Sales, Slashes 2012 e-Reader Estimate

Shares of Amazon.com (Nasdaq: AMZN) are trading slightly higher Monday afternoon despite a concerning research note from Pacific Crest's Chad Bartley early this morning.

Bartley said recent industry checks suggest component orders for Amazon's Kindle have tumbled by more than 75 percent from the initial expectations set back in early January. Further, orders for Kindle Fire components are down about 11 percent since February. Bartley believes Amazon might be "pushing aggressively" to reduce costs of the Kindle Fire.

The analyst absolutely slashed his 2012 e-reader estimate for Amazon from 24 million to just 12.3 million.

The Pacific Crest analyst maintains a Sector Perform rating on shares of Amazon.com.

The stock is up 0.2 percent to $185.50 just ahead of the closing bell.

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