Amazon Lowers Kindle Price As E-Reader War Heats Up
Monday, June 21, 2021 4:31 PM

Related Stories



Amazon.com Inc. (NASDAQ: AMZN) on Monday lowered the price of its wireless e-book reader Kindle by $70 to $189 from $259. Kindle offers 600,000 books starting from $9.99 and is the bestselling product on Amazon. 

Also Monday, Barnes & Noble (NYSE: BKS) slashed the price of its own Nook e-readers by $40 to $199 from $239. The company also announced the launch of Nook Wi-fi, which will sell for $149.

The rapidly growing e-book reader market has reached an interesting crossroads. As many companies such as Apple (NASDAQ: AAPL) and others try to join the war over the e-book reader market, the competition will only get more exciting. Late in May, Apple announced that it sold 2 million iPads since its launch almost two months ago.  The iPad, which doubles up as an ebook reader, was launched on April 3 in the United States.

Industry group Consumer Electronics Association predicts global PC shipments will reach 5 million units in 2010 from 2.2 million last year.

Amazon shares slumped $3.28 or 2.61% to close at $122.55 on Monday. Shares of Barnes & Noble dropped 54 cents or 3.16% to $16.53.

Disclosure: Author doesn’t own any of the stocks discussed here.

 

Sponsors

Symbol :

Advertisement

Market news:

  • US Consumer Sentiment Edges Up In June Jun 25, 2021 10:27 AM

    Consumer sentiment improved in late June to its strongest level in nearly 2-1/2 years, according to a survey released Friday by Reuters and the University of Michigan.

  • Earnings Roundup: KBH, AZZ Jun 25, 2021 09:36 AM

    KB Home (NYSE: KBH) on Friday reported a narrower fiscal second quarter loss on Friday but the results missed Wall Street expectations, sending shares lower in morning trade.

  • Stocks In Focus: Goldman Sachs, BP Jun 25, 2021 08:37 AM

    Shares of Goldman Sachs (NYSE: GS) climbed as much 1.5% in pre-market action on Friday as Senate and House lawmakers finalized negotiations on the most sweeping financial reform since the New Deal.

  • ETF Update: SOXS, SOXL, SPY Jun 24, 2021 08:21 PM

    Direxion Daily Semiconductor Bear 3X Shares (NYSEArca: SOXS) was the biggest gainer among the ETFs on Wednesday.

  • Earnings Roundup: ORCL, ACN, TIBX, AVAV Jun 24, 2021 07:44 PM

    Oracle Corp. (NASDAQ: ORCL) Thursday said that its fiscal fourth-quarter rose 25 from a year ago, helped by stronger sales of database and other business software and acquisition of Sun Microsystems.

More news


Advertisement

    Closest Estimates

User SymbolConsen EPSEstimate EPSActual EPS
Jim OPNT$0.10$0.09$0.07
XXXXX MNT$0.33$0.33$0.35
XXXXX OPNT$0.10$0.05$0.07
XXXXX PETM$0.33$0.33$0.34
XXXXX JBX$0.70$0.82$0.80
XXXXX HPQ$0.69$0.70$0.70
XXXXX OPNT$0.10$0.09$0.07
XXXXX CHUX$0.31$0.35$0.36
XXXXX HPQ$0.69$0.70$0.70
XXXXX CRM$0.01$0.00$0.01

    Recent Estimates

AnalystFirm NameSymbolEPS Estimate
Richard WXXXXX RIMM$1.34
mikeXXXXX RIMM$1.34
XXXXXXXXXX PIR($0.02)
joe blowXXXXX DLM$0.22
XXXXXXXXXX INTC$0.43
klineXXXXX Q$0.09
XXXXXXXXXX EK($0.31)
asdasd asd DRYS$0.23
XXXXXXXXXX AMAT$0.21
Tim GertinXXXXX AAPL$2.97