Trying to make the most of the Christmas shopping season, Amazon (NASDAQ:AMZN) recently launched its “Best of Digital” store. [1] The store features Amazon-recommended goodies including TV shows, movies and mobile apps, and it seems the company is leaving no stone unturned in squeezing the maximum out of the Kindle Fire mania. After a record-breaking Black Friday, Amazon could set new benchmarks for Christmas time shopping as well.
See our full analysis for Amazon’s stock here
Kindle Fire Updated as Well
Christmas day clocks in as the biggest day for digital sales for Amazon, with Dec 26 – Dec 30 reportedly averaging 3 times more than Amazon’s weekly sales for the remaining year. The company also chose this strategic time to release the latest update on the Kindle Fire, [2] which had seen some complaints from users on bugs. The tablets are selling like hot cakes with over 1 million being sold for each of the last 3 consecutive weeks, [3] and Amazon is well poised to make the best of it through further media consumption.
We have a revised price estimate of $233 for Amazon’s stock, which is currently around 30% above the current market price.
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