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Is Amazon Amazing, No More?

The traders are closely watching the action in Amazon after the stock hit record highs then rolled over.

What must you know about this stock? For insights we turned to Citi analyst Mark Mahaney.

“The pullback is significant,” says Mahaney. “We had a huge run in Q3 and that means investors will probably look for something similar in Q4.”

That may seem like a problem waiting to happen but "Amazon has materially gained share in the recession. I understand why invesors would be worried about the recent run but my guess is that we see that even more of the same in Q4. I’d be hesitant to leave a long position.”

What are the catalysts that are going to drive growth next year?

"The new revenue growth drivers are 1) Kindle sales, 2) the acecleration in international markets and 3) they're starting to get into household and personal care products. Amazon is now the biggest seller of diapers online because people have expanded from books, to videos to consumer electornics to household items," says Mahaney.

What’s the trade?

Mahaney tells the desk, "I have a small ‘buy’ rating on Amazon with a $140 price target."

I"’m bullish too," says Joe Terranova.

"It’s a great company, but I just can’t get on board with Amazon at these levels," counters Karen Finerman.

"Instead of Amazon, I'd put Akamai on the radar as a tech trade," Pete Najarian.

* And in case you’re wondering, Mark Mahaney tells us he’d be a big buyer of Google .


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Trader disclosure: On Dec. 8th, 2009, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Seymour Owns (AAPL), (BAC), (GE), (INTC), (TIE); Najarian Owns (AAPL) Calls; Najarian Owns (BAC) Calls; Najarian Owns (C) Calls; Najarian Owns (GE) Calls; Najarian Owns (INTC), Is Short (INTC) Calls; Najarian Owns (TXN), (TXN) Call Spread; Finerman Owns (GOOG), (AAPL); Finerman's Firm And Finerman Own (RIG); Finerman's Firm Owns (BAC) Preferred, (BAC), (BAC) Call Spreads; Finerman Owns (BAC) Preferred, (BAC); Finerman's Firm Owns (CSCO), (MCD), (MSFT), (TGT), (WMT), (YUM); Finerman's Firm And Finerman Own (WFC) Preferred; Finerman's Firm Is Short (IWM), (SPY), (IJR), (MDY), (UNG), (USO)

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NBC Universal Is The Parent Company Of CNBC

For Joe Terranova
Terranova Works For (VRTS)
Terranova Is Chief Market Strategist Of Virtus Investment Partners, Ltd.
Virtus Investment Partners Owns More Than 1% Of (CLB)
Virtus Investment Partners Owns More Than 1% Of (DLR)
Virtus Investment Partners Owns More Than 1% Of (EXR)
Virtus Investment Partners Owns More Than 1% Of (IGE)
Virtus Investment Partners Owns More Than 1% Of (XLY)
Virtus Investment Partners Owns More Than 1% Of (DBV)
Virtus Investment Partners Owns More Than 1% Of (UA)

For David Trone
Macquarie Capital (U.S.A.) Has Entered Into An Investment Banking Relationship With (BAC), (WFC) In Past 12 Months
Macquarie Capital (U.S.A.) Has Acted As Co-Manager In An Equity Offering By (BAC), (WFC) In Past 12 Months
Macquarie Capital (U.S.A.) Or Affiliate Has Received Investment Banking Compensation From (BAC), (WFC) In Last 12 Months

For Mark Mahaney
A Citigroup Global Markets Employee Owns (YHOO)
Citigroup Global Markets Employees Own (GOOG)
Citigroup Global Markets Or Affiliates Owns 1% Or More Of (YHOO), (AKAM), (NFLX), (PCLN)
Citigroup Global Markets Or Affiliates Expects To Receive/Seek Investment Banking Compensation From (EBAY) In Next Three Months
Citigroup Global Markets Or Affiliate Received Non-Investment Banking Compensation From (AMZN), (EBAY), (GOOG), (YHOO), (EXPE) In Past 12 Months
(EBAY) Is Or In Past 12 Months Was An Investment Banking Client Of Citigroup Global Markets
(AMZN), (EBAY), (GOOG), (YHOO), (EXPE) Are Or In Past 12 Months Were Clients Of Citigroup Global Markets (Non-Investment Banking, Securities-Related Services)
(AMZN), (EBAY), (GOOG), (YHOO), (EXPE) Are Or In Past 12 Months Were Clients Of Citigroup Global Markets (Non-Investment Banking, Non-Securities Related Services)
Citigroup Glboal Markets Is A Market Maker In (AMZN), (EBAY), (GOOG), (YHOO), (AKAM), (NFLX), (EXPE), (PCLN), OpenTable, Vistaprint NV
Citigroup Global Markets And/Or Affiliates Has A Significant Financial Interest


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