Will Kindle hype hurt Amazon? |
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Will Kindle hype hurt Amazon?
Amazon.com has never revealed sales data for its Kindle electronic readers, and CEO Jeff Bezos has said the company may never do so. But Amazon's recent string of press releases (see here, here and here) touting Kindle sales records, without revealing any actual numbers, is starting to get on Wall Street's nerves. Reuters, in an analysis piece, says "investor patience with the lack of details has begun to wear thin."
The piece quotes an analyst note from Bank of America Merrill Lynch that reads "We continue to be frustrated with the limited unit data points from Amazon in their numerous Kindle press releases," which are "aimed at generating press buzz, not providing the most relevant information to the street or the press."
How long will this go on? If Amazon continues to produce strong financial results, the company may be able to get away with Kindle sales secrecy, James McQuivey of Forrester tells Reuters. But if the Kindle business falls flat, Amazon's stock could be in for a correction "because the uncertainty factor would be so high," McQuivey said.
Still, as the story points out, Kindle makes up a tiny percentage of Amazon's total business, and the company doesn't face regulatory pressure to disclose Kindle sales. Ultimately, some analysts see Kindle as a "sideshow" to Amazon's overall ecommerce business, which is expanding rapidly into new product categories, Reuters notes.
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