UK’s competition watchdog, the Competition & Markets Authority (CMA) stated that tech giants, Amazon (NASDAQ:AMZN) and Meta Platforms (META) had committed to protect fair competition through their retail platforms.
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As a part of this commitment, Amazon has pledged not to utilize rival sellers’ marketplace data for unfair advantages, ensuring a level playing field for third-party marketplace sellers. This commitment by Amazon aims to provide independent sellers with a fair opportunity for their offers to be prominently featured in the “Buy Box.”
Similarly, Meta has signed commitments to prevent the exploitation of its advertising customers’ data, allowing competitors advertising on its platforms to opt out of the use of data for enhancing its Facebook Marketplace.
Following these commitments, the CMA will end its investigation into the used of advertising data by these two tech giants.
Is Amazon a Buy, Hold or Sell?
Analysts are bullish about AMZN with a Strong Buy consensus rating based on 44 Buys and one Hold. The average AMZN price target of $175.91 implies an upside potential of 27.3% at current levels.
