Amazon likely to launch new tablet
Nokia Corporation (ADR) (NYSE:NOK) has launched its Lumia phones. Now it is Amazon.com, Inc.(NASDAQ:AMZN)’s turn to launch new tablets. The largest online retailer is expected to unveil a new version of the Kindle Fire and also another tablet with an update of the Kindle e-reader. It is basically competing with Apple, Google and other technology companies who are also selling their tablets and smartphones.
Amazon’s objective is not to make money on these devices but rather have as many people buying them. When these people later use these same devices to buy the company’s e-books, games, apps, music and other digital content which carry higher margins, Amazon makes its profits.
What Investors Can Expect From AMZN’s Upcoming Event? Find Out Here
Amazon is selling more and more digital content and it wants to make sure that consumers have the devices to buy them. That is why, last year, Amazon introduced a tablet at just $199 way below the price offered by competitors on similar products. While the new gadget was not welcomed very enthusiastically, it managed to capture one fifth of the tablet market in the U.S.
Shares of AMZN soared 2% to $251.11 and made an all time high of $252.27 earlier in the session.
Analysts Continue To Boost LinkedIn’s stock
Shares of Linkedin Corporation(NYSE:LNKD) jumped another 4% to $117.89 after soaring 5.50% in the previous trading session.
Yesterday, investment bank Jefferies and Co. has upgraded the stock of LinkedIn from hold to buy, with a price target of $142. The investment bank’s analysts are of the view that the company will perform well in the near term and will provide “the most differentiated, effective products out there”.
The LinkedIn stock had debuted on the bourses in May 2011, priced at $45. It has been the most successful IPO of social networking companies ever. The advantage that LinkedIn has is that it can sell a variety of services. In fact it has a hiring solutions unit, a marketing unit which sells ads as well as a group which handles premium subscriptions.
Will LNKD Bounce Back To New Highs? Find Out Here