SAN FRANCISCO -- Have shares of Amazon.com ( AMZN) gotten a little ahead of themselves? On Wednesday, the online retailer's stock was enjoying the benefits of the broader market finally finding a direction other than down. Amazon was recently up $1.84, or 3%, to $63.54. But the company's shares have now jumped 80% since late November, when everyone was feeling depressed/shocked terrified about the Dow Jones Industrial Average dropping below 7,400. Ah, the good old days. To say Amazon has separated itself from the pack is an understatement -- in the past three months the stock is up nearly 40%, while the S&P 500 is down 20% and the Nasdaq has fallen about 10%. Amazon's newish designation as a stock with which to weather the recession -- it sits, for example, on Barclays' "Top Picks" list with Google ( GOOG), Netflix ( NFLX) and Blue Nile ( NILE) -- was cemented in late January, after the company's holiday quarter blew away Wall Street estimates. Even better, the company's projected range for first-quarter revenue, which bracketed the average analyst forecast, held up the promise that Amazon was going to be one of the rare stocks in the first half of 2009 to not cause investors to sigh heavily. In addition, the company's Kindle electronic book reader has evolved from "Who would ever buy that?" to become both a strengthening company brand and a conduit for related sales. Collins Stewart analyst Sandeep Aggarwal projected on Monday that Kindle sales would come in at $265 million to $305 million in 2009, with gross profit of $55 million to $70 million. If you think about it, that's larger than most U.S. businesses.