Amazon Sicks Fire on Apple Sales

Sales and earnings estimates are lowered for Apple (NASDAQ:AAPL) and iPad by the Street consensus and Cleveland Research. iPad are estimated to drop by 2 million down to 12 million. Q1 earnings per share estimates also drop to $9.53 from $9.70.

All the hubbub is the result of expectations that Amazon’s (NASDAQ:AMZN) Kindle Fire will give the iPad a run for its money; increased orders for the Kindle Fire in 2011 suggest that the Kindle Fire will do just that.

Here’s how Apple and Amazon’s stocks closed the week:

  • Amazon.com Inc. (NASDAQ:AMZN): The shares recently traded at $217.39, up $6.6, or 3.13%. They have traded in a 52-week range of $156.77 to $246.71. Volume today was 5,165,571 shares versus a 3-month average volume of 6,634,370 shares. The company’s trailing P/E is 114.60, while trailing earnings are $1.90 per share. Get the most recent company news and stock data here >>
  • Apple Inc. (NASDAQ:AAPL): The shares recently traded at $384.62, down $0.6, or 0.16%. They have traded in a 52-week range of $297.76 to $426.70. Volume today was 23,349,431 shares versus a 3-month average volume of 20,651,000 shares. The company’s trailing P/E is 13.90, while trailing earnings are $27.68 per share. Get the most recent company news and stock data here >>

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