Investing Insights: Amazon.com has a Stock Chart Technical Analysts Dream About.
According to the blog, Cult of Android, consumers are placing over 2,000 pre-orders per hour or more than 50,000 a day since Amazon (NASDAQ:AMZN) announced its launch five days ago. Current numbers have 250,000 tablets pre-ordered and an estimated 2.5 million pre-orders by the launch. This compares to first month sales for Apple’s (NASDAQ:AAPL) 1 million iPads in 2010 and the iPad2’s 2.5 million units. It also compares to Research in Motion’s (NASDAQ:RIMM) super weak shipment of 500,000 Playbooks.
Amazon’s stock is up 0.71% to $214 on the news. Shares are up 18.87% year to date. The stock has traded in a 52-week range between $151.40 and $244.