Amazon takes aim at iPad

Article Excerpt

AMAZON.COM $231.53 (Nasdaq symbol AMZN; TSINetwork Rating: Extra Risk) (206-266-1000; www.amazon.com; Shares outstanding: 460.0 million; Market cap: $106.5 billion; No dividends paid) has unveiled new models of its Kindle electronic-book reader, including the Kindle Fire, the company’s first tablet computer. The Kindle Fire features a seven-inch, full colour touch-screen display. It is smaller and has less memory than the top-selling Apple iPad, but it will cost just $199 U.S., compared to $499 U.S. for an iPad. The tablet computer market is fiercely competitive. However, the Kindle Fire’s lower price should help it compete with the iPad and give it an advantage over non-Apple tablets. As well, users will be able to easily buy and download e-books, music, movies and games from Amazon’s web site. The company will also let Kindle Fire users keep their content on its cloud storage service at no extra cost. Amazon.com is still a hold. hold…