Amazon Kindle Fire Revealed, Stock Up 3.75%

As we wait with bated breath for Amazon’s (NASDAQ:AMZN) launch of its new tablet, the Kindle Fire, here’s what Bloomberg is reporting as they’ve received the tablet specs early:

“The Kindle Fire will have a 7-inch display and sell for $199, compared with $499 for Apple’s cheapest iPad, Amazon executives said. The device, a souped-up version of the Kindle electronic-book reader, will run on Google Inc.’s (NASDAQ:GOOG) Android software.”

The question uppermost in everyone’s mind, however, is whether the device will help Amazon to move more of what its best at: content. Keep in mind the Kindle Fire originates from a retailer, not a hardware specialist like Apple (NASDAQ:AAPL). In 2007, Amazon CEO Jeff Bezos announced electronic e-books were selling better than traditional paper books – a turning point for Amazon and a shot in the arm for the earlier decision to launch the venerable Kindle.

So, will the new tablet work magic again for Amazon? It might, if the Company throws in a few freebies such as free subs to Amazon Prime and fun apps to lure people away from iPads or other Android tablets.

Amazon’s (NASDAQ:AMZN) stock is trading at $237.21 today, up 3.79%. Shares are up 40.39% in one year. The stock’s trading range for the year is between $151.40 and $244.00.