No one think this is an actual competitor to the iPod or Zune players but you have to wonder what they can do with it if they wanted to. A device like the Kindle can do far more than an iPod and at some point in time we’ll all be carrying around one device to surf the web, answer calls and read books. Could the Kindle be that device?

I was interviewing a tech CEO recently and asked him what his favorite gadget was. “The Kindle,” he replied without hesitation. He is not alone. Amazon.com’s electronic reading device is quickly developing an enthusiastic fan base. The digital device, which allows users to download books, magazines, newspapers and blogs wirelessly, retails for $399. It sold out almost instantly after its debut last November. Amazon has since re-stocked and is featuring the product prominently on their home page.

Can the Kindle could do for Amazon what the iPod did for Apple? It is certainly generating some serious buzz. This week Goldman Sachs analyst James Mitchell put Amazon on his recommended list and raised his price target, in part on the sales potential of the Kindle. Mitchell points out that Amazon’s sales growth last quarter matched that of Google.

Business 360: Get to grips with the issues affecting world business Blog Archive - Does Amazon have the next iPod? « - Blogs from CNN.com