Amazon (AMZN - Free Report) partnered with Snap (SNAP - Free Report) to allow the latter’s users to make product purchases directly from advertisements of its products on the Snapchat app.
Notably, the new alliance aims to enhance user experience by offering seamless access to Amazon product information within the Snapchat app.
Further, the deal will provide real-time pricing, Prime eligibility and delivery estimates to Snap customers.
Amazon is expected to gain solid traction among Snapchat users on the back of its latest move.
Growing Collaborations
The latest move bodes well for this Zacks Rank #2 (Buy) company to capture a wider customer base through collaborative movements.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
This apart, Amazon partnered with Meta Platforms (META - Free Report) to introduce a new feature allowing users to connect their Facebook and Instagram accounts to Amazon, enabling product purchases through promotions.
Notably, the META deal will allow Amazon to sell specific products directly or through independent sellers to Facebook and Instagram users through promotions.
Additionally, Amazon also collaborated with Shopify (SHOP - Free Report) to launch the Buy with Prime app for Shopify, allowing merchants to integrate with Prime members' orders.
The partnership allows Prime members to select Buy with Prime on product details before completing their order within Shopify's Checkout.
Amazon’s Prospects
We believe that the above-mentioned endeavors are likely to strengthen Amazon’s online store sales.
For the third quarter of 2023, the company’s online store sales stood at $57.27 billion, suggesting growth of 7% year over year.
Our model estimate for fourth-quarter online store sales is pegged at $67.01 billion, indicating growth of 3.8% from the prior-year quarter.
Strengthening online store sales will aid the company in maintaining its overall financial performance in the upcoming period. This, in turn, will likely instill investors’ optimism in the stock.
The third-quarter 2023 total revenues stood at $143.1 billion, which exhibited year-over-year growth of 12.6%.
For fourth-quarter 2023, Amazon expects net sales between $160 billion and $167 billion, which implies 7-12% year-over-year growth.
Notably, AMZN’s shares have gained 69.8% in the year-to-date period compared with the industry’s growth of 42.8%.
Zacks Names #1 Semiconductor Stock
It's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.
With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.
See This Stock Now for Free >>
Amazon (AMZN - Free Report) partnered with Snap (SNAP - Free Report) to allow the latter’s users to make product purchases directly from advertisements of its products on the Snapchat app.
Notably, the new alliance aims to enhance user experience by offering seamless access to Amazon product information within the Snapchat app.
Further, the deal will provide real-time pricing, Prime eligibility and delivery estimates to Snap customers.
Amazon is expected to gain solid traction among Snapchat users on the back of its latest move.
Growing Collaborations
The latest move bodes well for this Zacks Rank #2 (Buy) company to capture a wider customer base through collaborative movements.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
This apart, Amazon partnered with Meta Platforms (META - Free Report) to introduce a new feature allowing users to connect their Facebook and Instagram accounts to Amazon, enabling product purchases through promotions.
Notably, the META deal will allow Amazon to sell specific products directly or through independent sellers to Facebook and Instagram users through promotions.
Additionally, Amazon also collaborated with Shopify (SHOP - Free Report) to launch the Buy with Prime app for Shopify, allowing merchants to integrate with Prime members' orders.
The partnership allows Prime members to select Buy with Prime on product details before completing their order within Shopify's Checkout.
Amazon’s Prospects
We believe that the above-mentioned endeavors are likely to strengthen Amazon’s online store sales.
For the third quarter of 2023, the company’s online store sales stood at $57.27 billion, suggesting growth of 7% year over year.
Our model estimate for fourth-quarter online store sales is pegged at $67.01 billion, indicating growth of 3.8% from the prior-year quarter.
Strengthening online store sales will aid the company in maintaining its overall financial performance in the upcoming period. This, in turn, will likely instill investors’ optimism in the stock.
The third-quarter 2023 total revenues stood at $143.1 billion, which exhibited year-over-year growth of 12.6%.
For fourth-quarter 2023, Amazon expects net sales between $160 billion and $167 billion, which implies 7-12% year-over-year growth.
Notably, AMZN’s shares have gained 69.8% in the year-to-date period compared with the industry’s growth of 42.8%.
Zacks Names #1 Semiconductor Stock
It's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.
With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.
See This Stock Now for Free >>
Get the latest research report on AMZN - FREE
Get the latest research report on SHOP - FREE
Get the latest research report on SNAP - FREE
Get the latest research report on META - FREE