Initial skepticism about Amazon's Kindle is being replaced by euphoria: Citi's Mark Mahaney, who was already bullish on the e-book reader, declares that is indeed going to be Amazon's iPod.
In practical terms, that means that Mahaney has gone back and revisited his original estimates from last spring. He now thinks Amazon (AMZN) will sell 378,000 units this year, double his initial guess. And he thinks instead of being a $750 million business that accounts for 3% of the company's sales next year, the Kindle will be a $1.1 billion business that accounts for 4%.
What's changed? No specific data, Mahaney says, because getting real numbers out of Amazon is impossible, and the supply chain is pretty tightly wrapped, as well.