What Are Analysts Saying About The Amazon Fire?
Amazon (NASDAQ: AMZN) unveiled Fire, the company's first smartphone. As a result, Amazon saw an initial spike in its share price on Thursday, but has since seen the price fall as much as two percent below Wednesday's closing price.
Following the announcement a number of analysts have issued notes detailing their opinion on how this will impact the company.
Macquarie: Outperform, $430 PT
Analysts at Macquarie commented, "Investors should be looking at the Amazon phone introduction as the latest battleground in the great ecosystem war... Companies such as Amazon and Microsoft understand that building the ecosystem is critically important for their long-term success."
The analysts noted that the Fire has two distinctive features- Firefly and 3D display - that set it apart from other smartphones.
Oppenheimer: Outperform, $455
"Besides multiple features that encourage users to consume/purchase content and products via its website, the Fire has two distinct hardware features that may impact the decisions of other smartphone original equipment manufacturers," wrote analysts at Oppenheimer.
The analysts noted the Fire may lead other smartphone original equipment manufacturers to pursue some form of optical image stabilization and an advanced tracking and sensing subsystem, depending on consumer and app developer reception of the Fire.
Topeka: Buy, $430
Analysts at Topeka commented, "The phone is impressive and compares favorably with other high-end smartphones on the market today. The features, such as Dynamic Perspective (3D), Firefly, MayDay, unlimited storage of photos, and one free year of Amazon Prime, are compelling and should help attract smartphone users, and possibly take share from other Android smartphone makers."
Latest Ratings for AMZN
|Nov 2014||Piper Jaffray||Maintains||Overweight|
|Nov 2014||Nomura||Initiates Coverage on||Buy|
|Oct 2014||Morgan Stanley||Initiates Coverage on||Overweight|
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.