AMZN - Amazon.com, Inc.

August 11, 2009 by Hot Stocks To Buy

AMZN (Amazon.com, Inc.)

Entry Price: $83.49
Risk Level:9
Profitability Level:8
1year Target Price: $125-$135

Amazon has a product called Kindle, which has been featured on the Oprah Show that could be very profitable. A Cowen analyst Jim Friedland increased his expectations for sales of the Amazon (AMZN) Kindle e-book reader. Friedland now expects Amazon to end 2009 with 1.5 million active Kindle units increasing revenue to $266 million, up 13% from their previous estimate of $235 million. For 2010, he increased his sales forecast by 11% to 1.8 million units. By the end of 2010, he expects 3 million Kindles to be in service. Within 5 years, he estimates, 17% of active Amazon customers will own Kindles which will account for 10% of Amazon’s North American sales, or $2.3 billion in GAAP revenues.

Yahoo Finance analyst predictis positive growth for next quarter as well as a 28.6% growth for next year. This in addition to the increased kindle purchases makes Amazon a hot stock to buy.

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