We've spent the last couple days
thinking this over, and as much as we'd like to agree with analysts on the rosy future of the Kindle (and e-books in general), we cannot ignore the nay-sayers, put-down, it's been done before, commenters. So also Scott Berry of SeekingAlpha, who
attributes the bank analysts' euphoria to them being crack smokers (and stock manipulators).
Quote:
Citi’s Mahaney has even gone so far as to suggest 3% of Amazon’s revenue (about $750M) will come from Kindles within 2 years. Worse yet, he assumes a sales ramp roughly half of the original iPod. Frankly, he’s smoking crack.
If Eliot Spitzer hadn’t brought an end to the practice some years ago (cough, cough), I’d almost think these two were trying to drum up business for their investment banks. Instead it’s probably something much more innocent, like say pumping the stock for the traders.
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Note, he also believes that end users don't need e-book readers. So whom do you want to believe -- analysts or Mr. Berry?