Amazon Gains on Target Rumors
NEW YORK (TheStreet) -- Amazon (AMZN) - Get Report shares surged on Thursday following rumors that it may start selling its e-reader in Target (TGT) - Get Reportstores.
Gadget blog Engaget said it nabbed images of Target's inventory list that show Amazon's Kindle. The blog said it was told that the device will hit stores on April 25.
The Kindle is currently sold exclusively on Amazon's site. But with the launch of
Apple's
(AAPL) - Get Report
iPad last weekend, Amazon may be looking to expand its reach.
Apple said today that it has sold more than 450,000 devices since Saturday. In the first day, alone, more than 300,000 were sold. It has also already sold more than 660,000 e-books.
Amazon also competes with other devices sold in brick-and-mortar stores, like
Barnes & Noble's
(BKS) - Get Report
Nook.
Amazon is gaining 4.5% to $140.93 in afternoon trading.
-- Reported by Jeanine Poggi in New York.
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