read at NYTimes.com
"Amazon’s current $24 billion market capitalization represents a whopping premium to that figure. Even stripping out $2 billion of cash, $9 billion of value is apparently unaccounted for. Could that be the “Kindle premium”?
Amazon is trying to copy Apple’s stunning success with its elegant iPod and cheap and user-friendly music store. The Kindle is not there yet, but it is getting closer. This year, Amazon is redesigning it, and a student version is also expected, an attempt to snag part of the $5.5 billion annual United States college textbook market."