“Susquehanna Financial Group analyst Marianne Wolk this morning cut her rating on Amazon.com to Neutral from Positve, citing increasing competitive pressure on the Kindle e-reader,” Eric Savitz reports for Barron’s.
“Wolk notes that Apple has seen strong early momentum in the e-Book space with the Apple iPad, taking share from Amazon among the five publishers make e-books available on the iPad, taking 22% share with with those publishers in the first two months of launch,” Savitz reports. “And she notes that more publishers will start selling on the iPad over the next several months, reducing Amazon’s selection advantage.”
Savitz reports, “AMZN this morning is down $1.88, or 1.6%, to $119.12.”
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MacDailyNews Take: Bloodbath. Read all about it on your iPad. In vibrant color.