Amazon (NASDAQ:AMZN) has long been known as the heavyweight champ of online retail. But it’s also been stretching its wings into consumer tech and beyond. Now, there’s a string of new products preparing for release and an upcoming event to show them off. Investors, sadly, don’t appear interested, and Amazon lost fractionally in Wednesday afternoon’s trading to prove as much.
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Amazon showed off an array of new devices and some new services as well. Starting out with the Echo Show 8, Amazon’s latest smart speaker/smart home hub boasts edge-to-edge glass as well as an array of new microphones and cameras to better ensure that a user’s instructions are getting across. That’s just for starters, though, as Amazon also demonstrated how the Echo Show is improving. A new language model is set to improve Alexa’s response time by around 40%, and by the end of this year, Alexa systems will be able to translate calls in real-time.
The unveiling didn’t stop there. Amazon rolled out new smart speakers for kids, extension battery packs, floodlight cameras, and more. It also brought out some less intelligent hardware, like the new Fire TV Soundbar. This $120 soundbar with Bluetooth connectivity allows for operation with all of Amazon’s streaming products. All of this sounds reasonably good, and improving home space should still draw some interest even in an economy where the consumer is increasingly shaky.
Is Amazon a Buy, Hold, or Sell?
Amazon, meanwhile, has near-total analyst support. With 39 Buy ratings and one Hold, Amazon stock is considered a Strong Buy by nearly universal acclaim. Further, with an average price target of $175.63, Amazon stock offers a healthy 29.06% upside potential.
