Weinstein repeats a comment Amazon CEO Jeff Bezos made at the D: All Things Digital conference that the company is seeing 6% of book sales in electronic form for the 125,000 titles sold in both print and digital formats. Weinstein notes that in 2007, e-books overall were less than 1% of all U.S. book sales.
Weinstein asserts that the Amazon Kindle e-book reader “could be the catalyst for accelerating the growth of e-books for Amazon, much the way that the iPod fueled the growth of digital music.”
Weinstein repeated his Sector Perform rating on the stock, but writes that he remains bullish on the shares long term based on continued market share gains, a higher mix of third party sales and a shift toward digital media.
AMZN Monday is off 97 cents, or 1.2%, to $80.13.