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Piper Jaffray Comments On Amazon Fire Performance

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In a note released Wednesday, Piper Jaffray analyst Gene Munster said Amazon (NASDAQ: AMZN) may sell as many as two million Fire phones in the first 12 months since its release.

At that level, the Fire would represent a market share at or below that of the Windows Phone. To put this number in perspective, Munster expects Apple to sell 185 million phones next year.

In Munster's opinion, the Fire is a "quality" phone, but lacks both the "uniqueness" and price to gain "measurable" market share.

Piper Jaffray currently rates Amazon Overweight with a $420 price target.

Latest Ratings for AMZN

Oct 2016Goldman SachsMaintainsBuy
Oct 2016Credit SuisseMaintainsOutperform
Oct 2016Morgan StanleyMaintainsOverweight

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