Amazon.com's (NASDAQ:AMZN) Kindle Sales Could Exceed Expectations

Kindles sold by Amazon.com (NASDAQ:AMZN) in 2010 come in at an estimated 7.1 million, according to Barclays (NYSE:BCS), who also sees another 12.3 million being sold in 2011, which could be a conservative estimate.

Barclays says, "We now estimate that Amazon sold 7.1 million Kindles in 2010 and will sell 12.3 million in 2011, though our numbers may still be conservative. We also believe increased Kindle device sales coupled with the second wave of tablet PCs will help to further drive Kindle eBook content sales in 2011. Our estimates now suggest total Kindle related sales (devices and content) will reach $3.3 billion in 2011-7.7% of Amazon's revenue-and more than $7.0 billion in 2013-11.1% of Amazon's total revenue...Our $195 price target is based on 25x our 2011E FCF/share of $7.80."

Barclays maintains an "Overweight' rating on Amazon.com, which closed Tuesday at $191.25, gaining $250, or 1.32 percent. Barclays has a price target of $195 on Amazon.com.