Amazon launch smartphone 2012, Citigroup believes Amazon is developing the phone with Foxconn International Holdings and expects the smartphone to adopt Texas Instrument's (NYSE:TXN) OMAP 4 processor and Qualcomm's (NASDAQ:QCOM) dual mode 6-series standalone baseband.


Amazon.com (NASDAQ:AMZN) has potential upside of 16.1% based on a current price of $206.91 and an average consensus analyst price target of $240.29.Amazon.com is currently below its 50-day moving average (MA) of $223.57 and should find support at its 200-day MA of $199.86.

In the last five trading sessions, the 50-day MA has remained constant while the 200-day MA has risen 0.34%.

Amazon.com, Inc. is an online retailer that offers a wide range of products. The Company's products include books, music, videotapes, computers, electronics, home and garden, and numerous other products. Amazon offers personalized shopping services, Web-based credit card payment, and direct shipping to customers.