Amazon announced today (AMZN) that its Q3′07 earnings conference call will be held on October 23rd at 5 p.m. EST. The forecast is for 35+% growth YOY and there’s a good deal of support for the current share price which validates the positive momentum Amazon has (way too expensive for me). But how big is the quarter going to be?

First, the ingredients:

• The average estimate for Q3′07 revenue is $3.13B in revenue up from $2.31B in Q3′06, a jump of almost 36%
• Amazon saw a 35% increase in Q2′07 and projected anywhere from 30 - 38% in Q3
• Bank of America recently raised their target price on Amazon to $105 (closed Friday around $92/share) based on traffic acceleration and strong third-party merchant sales, yet unique monthly visitors appear to stagnate.
• Amazon’s largest investor (after Jeff Bezos), Legg Mason, pulls back its ownership from 17.54% to 14.64% not too far ahead of Q3 results.
• Amazon launches DRM-free MP3 to compete with iTunes (no, this really has no impact whatsoever on Q3 revenue but I still think that’s pretty cool).

Ladies and gentlemen, I am projecting a 32% jump to $3.05B revenue in Q3, discounting the projected 35.8% by roughly 10% based purely on speculation (and really hoping for a sell-off so that I can jump in). What works against me that there continues to be very strong demand from online retailers for Amazon.com with eBay somewhat struggling. Call me Custer.

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