Forbes Says Kindle Fire Poses Legitimate Threat to Apple's iPad
Amazon's (NASDAQ:AMZN) introduction of the Kindle Fire tablet today is a direct challenge to Apple (NASDAQ:AAPL), according to Forbes contributor E.D. Klein. Citing the lower price, the cloud storage, and Amazon's library of music, video and books, Klein believes Amazon is a legitimate threat to Apple products. Shares of Amazon are trading 3.3% higher to $231.62 on the news. So far today, Amazon has traded over 11 Million shares, compared to the average daily volume of 6 Million. Amazon.com (NASDAQ:AMZN) has a potential upside of 6.9% based on a current price of $231.38 and an average consensus analyst price target of $247.46.
Amazon's (NASDAQ:AMZN) introduction of the Kindle Fire tablet today is a direct challenge to Apple (NASDAQ:AAPL), according to Forbes contributor E.D. Klein. Citing the lower price, the cloud storage, and Amazon's library of music, video and books, Klein believes Amazon is a legitimate threat to Apple products. Shares of Amazon are trading 3.3% higher to $231.62 on the news. So far today, Amazon has traded over 11 Million shares, compared to the average daily volume of 6 Million. Amazon.com (NASDAQ:AMZN) has a potential upside of 6.9% based on a current price of $231.38 and an average consensus analyst price target of $247.46.