Shares of Amazon were falling 0.7% to $369.58.
According to The Telegraph Amazon is looking to recruit "industry heavyweights" to fill out Amazon Games Studios and turn it into "a major operation." The online retailer recently acquired game studio Double Helix, developers of Killer Instinct on the Xbox One and the recent Strider game.
Amazon is also reportedly reaching out to third-party game developers to produce games for its rumored game console or set-top box.
The company is said to be planning to use original games from Amazon Game Studios and other original content to drive sales of the new device.
A recent report from Re/code said the device will be ready to launch sometime in March.
Must read: Warren Buffett's 10 Favorite Stocks
TheStreet Ratings team rates AMAZON.COM INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate AMAZON.COM INC (AMZN) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, impressive record of earnings per share growth and compelling growth in net income. However, as a counter to these strengths, we also find weaknesses including generally higher debt management risk and poor profit margins."