Amazon’s Reaction to Citi’s Kindle Note: Irrational Exuberance
August 11, 2008 at 10:52 AMPosted by Thomas Catino
Citigroup's Mark Mahaney is out with a note this morning regarding Amazon Inc.’s (AMZN) Kindle, saying the sleek and trendy electronic reader is the “iPod of the book world” and could be one of the top gifts this holiday season. The analyst has doubled his 2008 unit sales estimate of Kindle from 190,000 to 380,000. Revenue from Kindle is expected to be $1 billion, up from a previous estimate of $400 to $750 million. The news may be good, but the quick and early 9% move in the stock speaks of irrational exuberance.
yikes! Well it does look like it's going to be a great product, but can't someone improve on the stuff we already have? For example, why can't they incorporate something like this with breakthrough phones like the Motorokr this phone has crystal talk technology, a Mode-shift feature, full HTML browser, and plays music! I'm sure they can squeeze books in there too.
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Hi Thomas,
My name is Vikram and I work with Wikinvest.com, an investing wiki about companies like those that you blog about. I've been trying to contact you for some time. Would you be able to get in touch with me at vikram [at] wikinvest [dot] com.
Thanks so much.
Vikram
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