FORTUNE -- Thursday was bad-news day for Amazon's (AMZN) Kindle line of tablets and e-readers.
"To put it short," wrote Paulo Santos Thursday in Seeking Alpha, "the Kindle eReader has dropped out of bed. It has fallen beyond the wildest dreams of Amazon.com's management."
"This is simply not a positive development," Santos concludes. "This is another development confirming the migration of e-reading from Amazon.com's controlled environment, to a larger set of devices. These devices run Apple's (AAPL) iOS or Google's (GOOG) Android.
"The Kindle Fire suffering the same fate so early ... means that Amazon.com's attempt to mitigate Apple and Google's dominance has already failed. This failure certainly doesn't seem to be priced in the market."
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