Short Trade of the Week AMZN Stock Burns After Announcing "Kindle Fire" Tablet

Date: 9/29/2011

Stock Market Video Short Trade of the Week AMZN Stock Burns After Announcing "Kindle Fire" Tablet. Amazon Announces $199 Kindle Fire Tablet, $149 Kindle touch.

Amazon's release is looking to rival competitor "Apple Computers" iPad2 which recently announced 25% lower shipments.Amazon is unveiling today a tablet, called the Fire, that may not have all the same features as an iPad, but will start at a much lower price.

According to a Bloomberg report citing Amazon executives, it will cost $199, compared to the iPad, which starts at $499.Initially, it appears the Kindle Fire will be more of a color version of the Kindle e-reader than a true competitor to the iPad.The device will have a 7-inch display (3-inches shy of the iPad), and will run Google's Android software, but it won't have an embedded camera or microphone.

Additionally, it will come with Wi-Fi, but not 3G.All Things D's Peter Kafka is live in New York to cover all of the proceedings.As rumored previously, the device will come with a 30-day free trial of Amazon Prime, the Seattle company's $79 annual membership, which includes free two-day shipping, but also some content, like streaming video.

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