Amazon AMZN introduced three new next-generation Kindle Paperwhite models, namely Kindle Paperwhite, Kindle Paperwhite Signature Edition, and Kindle Paperwhite Kids.
The latest models feature advanced hardware and a redesigned user interface to provide an enhanced reading experience. The Kindle Paperwhite also guarantees faster performance.
The all-new Kindle Paperwhite comes with the largest 6.8-inch screen ever and adjustable warm light and white-on-black dark mode, providing flexibility in reading anytime.
The Kindle Paperwhite Signature Edition offers auto-adjusting front lighting for comfortable reading. It is the very first Kindle to offer wireless charging.
The all new Kindle Paperwhite and Kindle Paperwhite Signature Edition offer a long battery life of 10 weeks.
Additionally, the Kindle Paperwhite Kids is the very first Paperwhite device designed for kids and comes with a one-year Amazon Kids + subscription.
All Paperwhite templates provide users with instant access to the Kindle Store, which contains a massive collection of millions of books, newspapers, audiobooks, and magazines.
With the latest launches, Amazon has expanded its portfolio of eBook offerings. We believe the features mentioned above should boost the momentum of the company’s customers in the e-book market.
Amazon.com, Inc. pricing and consensus
Amazon.com, Inc.’s Price Consensus Table | Amazon.com, Inc.
Growing e-book reader market
Digital advancements in the education sector are increasing the adaptation of online learning into the curriculum, which helps students gain a better learning experience. This acts as a key driver for the growth of the market.
Additionally, increasing internet usage, changing lifestyles and rising income levels are propelling the market.
In addition, some of the major manufacturers operating in the industry offer additional features such as adjustable color front lighting, an offline dictionary, access to a cloud to manage purchased books and extensive storage for audiobooks. in order to attract more customers. It also causes the market to proliferate.
By a report According to Facts and Factors, this market is expected to reach $ 38.17 billion by 2026, with a CAGR of 3.7% between 2021 and 2026.
In addition, a report imarc reports that this global market is expected to grow at a CAGR of 6.21% during the period 2021-2026.
Amazon remains well positioned to capitalize on the aforementioned prospects thanks to its strong Kindle portfolio.
Given the optimistic scenario, not only Amazon, but other companies like Rakuten, Boyue and Barnes & Noble Education are also taking strong initiatives to enter the e-book reader market, thus increasing competition in the market.
Recently, Rakuten’s subsidiary, Kobo, launched Kobo Elipsa, which provides users with a digital reading and writing experience. Dual experience helps users take notes and capture their ideas.
Meanwhile, Boyue introduced updates to Likebook Mars and Mimas to correct typography and provide an improved experience for readers.
In addition, Barnes & Noble Nook e-readers provide users with millions of eBooks, digital comics, newspapers and magazines to read anytime, anywhere. This remains remarkable for the company.
Zacks ranking and actions to take into account
Currently, Amazon carries a Zacks Rank # 4 (Sell).
Some top-ranked stocks in the retail sector include Hibbett HIBB, Capri Holdings Limited CPRI, and Petco Health and Wellness Company WOOF, each carrying a Zacks Rank # 2 (Buy). You can see The full list of Zacks # 1 Rank (Strong Buy) stocks today here.
Long-term earnings growth rates for Capri Holdings, Petco Health and Wellness and Hibbett are currently projected at 46.4%, 44.7% and 22.4%, respectively.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.