Amazon: Citi Doubles Estimate on ’08 Kindle Sales
Amazon.com (AMZN) shares are sharply higher today, aided by a bullish note this morning from Citigroup’s Mark Mahaney focused on the company’s Kindle e-book reader.
Mahaney today doubled his 2008 unit estimate on Kindle sales to 380,000 from 190,000. He notes that 380,000 is exactly how many iPods Apple (AAPL) sold in the first year. “Turns out the Kindle is becoming the iPod of the book world,” he writes.
Mahaney thinks the Kindle could turn out to be one of the top “gadget” gifts of this year’s holiday gift season. He thinks the company can sell 150,000 Kindles this holiday season.