Amazon.com, Inc.(NASDAQ:AMZN) Hits Multi-Month Highs To Trade Above $200 a share
Shares of Amazon.com, Inc. (NASDAQ:AMZN) ended higher by over 45 on Monday to close at above $200 mark for the first time in the current year on reports that the company is rolling its plans to launch its second-generation Kindle Fire tablet against the lower-priced iPad 2 product line of Apple Inc.’s (NASDAQ:AAPL), as per the media reports.
According to reports by BGR and Digitimes, the company is designing a larger-screen device which would go head-to-head with Apple’s iPad hitting its target market. Entering the media tablet market in November with a 7-inch-screen device running Google’s (GOOG) Android operating system, the combating neck to neck with Apple’s iPad. As per the reports which are into circulation, the company plans to add a 10-inch-screen tablet to better compete with Apple’s 9.7-inch-screen iPad. The Seattle-based e-commerce leader is expected to launch the 10-inch Kindle Fire tablet with a faster processor in the second quarter
Penetrating the tablet market in November, Amazon has snatched the 2nd position with its $199 Kindle Fire. When the Kindle Fire launched, the lowest market price of the iPad was $499. But Apple responded on March 7 by cutting the price of its iPad 2 models by $100 each. So the lowest-priced iPad is now $399.
In the fourth quarter, Apple led the global tablet market with 57% market share, based on unit shipments. Amazon emerged from nowhere to second place, at 14% market share. Samsung slipped to third, with 8% market share.