There is no doubt that online retailing giant Amazon’s (AMZN) big move into nuclear power caught a lot of attention today. But there’s a smaller move that may prove just as big in the end, as Amazon rolled out two new Kindle tablets today, including one with a major change: a color screen. This, plus the nukes, however, did not prove enough for Amazon investors, and shares were down fractionally in Wednesday afternoon’s trading.
It is called the Kindle Colorsoft, and it represents a first-of-its-kind advance for Amazon: a Kindle with a color display. Kindles, Amazon’s first big attempt at breaching the tablet computer market, dates back to 2007 when Amazon demonstrated the exciting potential of a largely portable device that could carry dozens, if not hundreds, of books in a space roughly larger than most users’ pockets.
But now, the Colorsoft—which boasts not only a color screen that maintains its fidelity even when zooming in—will offer users battery life measured in “weeks” and be available starting October 30 for $279.
But That’s Not All
Amazon did not just roll out one revamped Kindle, even as impressive as the Colorsoft is with its new, first-in-class color display. No, it also brought out three other Kindles, each with its own particular selling points.
For instance, there was the Kindle Scribe, which got its note-taking abilities revamped to allow users to take notes directly in the margins of e-books themselves and comes at a price tag of $399. The Kindle Paperwhite got an update—including a larger display and some improved speeds—along with a price tag of $159. And finally, there is a new regular Kindle, the 12th-generation model, that will be available for the comparatively low price of $109.
Is Amazon Stock Expected to Rise?
Turning to Wall Street, analysts have a Strong Buy consensus rating on AMZN stock based on 45 Buys and two Holds assigned in the past three months, as indicated by the graphic below. After a 41.71% rally in its share price over the past year, the average AMZN price target of $224.38 per share implies 20.6% upside potential.
