In a market as unpredictable as this one, the Fast Money traders always say watch what’s working and lately that’s been Amazon.
Shares are up more than 15% over the past 3 months, partly due to Street expectations that the latest Amazon Kindle could give the iPad a run for its money.
But the new gadget, called the Kindle Fire debuted on Wednesday, and it left the Street underwhelmed.
”This is no iPad killer,” says trader Pete Najarian. “It doesn’t have a camera, it’s got no microphone and it does not have 3G. There are a lot of limitations.”
But all that might not matter. Amazon did include something that could make the Kindle Fire a absolute game changer. The price of the new gadget starts at $199.
At that price point, it’s accessible for millions of Americans. “You could have a a Kindle Fire as well as an iPad,” muses Jonathan Geller, president and editor in chief of BGR.com in a live interview. “It’s not an either or situation.”
And the Fast pros largely agree the strategy probably turns out to be brilliant. “The Kindle Fire can build on the Amazon eco-system without have to go head to head with Apple,” adds Pete Najarian. “It’s a really unique device that provides new ways to consume media. It’s a reason to buy Amazon," he says.