Tech giants Meta Platforms (NASDAQ:META) and Amazon (NASDAQ:AMZN) have teamed up on a new feature that will allow Facebook and Instagram users to link their accounts to Amazon and order products directly from the social media platforms.
Importantly, the new feature could drive Meta’s advertising revenue and prove to be a major sales churner for both companies. For Meta, the new feature means users will still stay on its applications while going on Amazon shopping sprees.
Moreover, U.S. customers will be able to see real-time pricing, delivery estimates, product details, and Prime eligibility for the Amazon product advertisements. The new feature is also expected to help Meta recover after Apple’s (NASDAQ:AAPL) privacy changes on iOS made it difficult to target users for social media platforms, according to CNBC.
Meanwhile, Amazon has been making moves to boost its Ad business among plenty of other add-ons for customers. Both Meta and Amazon have been looking to ride the rising social shopping trend, and the new feature could very well become the Ad product of the year, noted Maurice Rahmey, the co-CEO of Disruptive Digital.
Is Amazon Stock Expected to Go Up or Down?
Shares of both Amazon and Meta have had a terrific run over the past year. Still, Amazon’s 45% price gain pales in comparison to the 186% rally in meta shares over the past year. On the other hand, analysts see a higher upside potential of 24.6% in AMZN stock based on a Strong Buy consensus rating and an average price target of $176.03.
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