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Amazon (AMZN) Expands Fire TV Family With Latest Devices
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Amazon (AMZN - Free Report) is leaving no stone unturned to bolster its presence in the streaming world on the back of its expanding streaming devices offerings.
This is evident from the latest launch of the next-generation Fire TV Stick and Fire TV Stick Lite, which is an all-new device.
Notably, the advanced Fire TV Stick consumes 50% less power compared to the previous generation, while delivering fast streaming in 1080p at 60fps. Additionally, the device, which is comprised of a 1.7 GHz quad-core processor, is compatible with HDR. Further, the device, which costs $39.99, comes with Alexa Voice remote and Dolby Atmos.
Fire TV Stick Lite comes with an all-new remote —Alexa Voice Remote Lite, which helps in searching, launching and controlling content with a voice command. Also, it is an HDR-compatible device.
We believe that Fire TV Stick Lite is expected to drive the company’s momentum among customers further as this full-HD streaming device is more affordable. Notably, it costs $29.99.
Apart from the device launches, Amazon redesigned Fire TV experience by adding improved voice controls with Alexa, placing the Main Menu at the center and introducing the Find experience.
Fire TV Portfolio Strength: A Key Catalyst
Amazon has been gaining on its strengthening active user base for Fire TV on the heels of its Fire TV portfolio strength.
Apart from the latest additions, the portfolio comprises Fire TV Edition for Auto that allows direct integration of Fire TV into an in-vehicle entertainment system.
Further, the company offers Fire TV Edition for Soundbars, which powers more than50 TV and soundbar models in more than 10 countries.
Additionally, the introduction ofFire TV Edition for Operators, which allows television and telecommunication operators to offer Fire TV Edition devices to customers, remains positive.
All these are expected to continue bolstering the adoption rate of Fire TV globally, which in turn will drive the company’s top-line growth.
We believe that expanding the Fire TV portfolio will continue to strengthen Amazon’s position in the streaming device market, which holds promise.
According to a report from AlliedMarket Research, this particular market is expected to witness a CAGR of 13.2% between 2020 and 2027, and hit $18.97 billion by 2027.
Notably, the upside potential in the streaming devices market is intensifying the competition, with several companies making advances into it.
Apart from Amazon, companies like Alphabet’s (GOOGL - Free Report) Google, Roku (ROKU - Free Report) , Apple (AAPL - Free Report) and Comcast are making concerted efforts to capitalize on the streaming device space growth potential, which is giving rise to the market competition.
Nevertheless, Amazon’s aggressive efforts toward delivering enhanced user experience on the back of advancing Fire TV features and improving Alexa skills on Fire TV make it a strong contender in the battle.
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2021.
Image: Bigstock
Amazon (AMZN) Expands Fire TV Family With Latest Devices
Amazon (AMZN - Free Report) is leaving no stone unturned to bolster its presence in the streaming world on the back of its expanding streaming devices offerings.
This is evident from the latest launch of the next-generation Fire TV Stick and Fire TV Stick Lite, which is an all-new device.
Notably, the advanced Fire TV Stick consumes 50% less power compared to the previous generation, while delivering fast streaming in 1080p at 60fps. Additionally, the device, which is comprised of a 1.7 GHz quad-core processor, is compatible with HDR. Further, the device, which costs $39.99, comes with Alexa Voice remote and Dolby Atmos.
Fire TV Stick Lite comes with an all-new remote —Alexa Voice Remote Lite, which helps in searching, launching and controlling content with a voice command. Also, it is an HDR-compatible device.
We believe that Fire TV Stick Lite is expected to drive the company’s momentum among customers further as this full-HD streaming device is more affordable. Notably, it costs $29.99.
Apart from the device launches, Amazon redesigned Fire TV experience by adding improved voice controls with Alexa, placing the Main Menu at the center and introducing the Find experience.
Fire TV Portfolio Strength: A Key Catalyst
Amazon has been gaining on its strengthening active user base for Fire TV on the heels of its Fire TV portfolio strength.
Apart from the latest additions, the portfolio comprises Fire TV Edition for Auto that allows direct integration of Fire TV into an in-vehicle entertainment system.
Further, the company offers Fire TV Edition for Soundbars, which powers more than50 TV and soundbar models in more than 10 countries.
Additionally, the introduction ofFire TV Edition for Operators, which allows television and telecommunication operators to offer Fire TV Edition devices to customers, remains positive.
All these are expected to continue bolstering the adoption rate of Fire TV globally, which in turn will drive the company’s top-line growth.
Amazon.com, Inc. Price and Consensus
Amazon.com, Inc. price-consensus-chart | Amazon.com, Inc. Quote
Intensifying Competition
We believe that expanding the Fire TV portfolio will continue to strengthen Amazon’s position in the streaming device market, which holds promise.
According to a report from AlliedMarket Research, this particular market is expected to witness a CAGR of 13.2% between 2020 and 2027, and hit $18.97 billion by 2027.
Notably, the upside potential in the streaming devices market is intensifying the competition, with several companies making advances into it.
Apart from Amazon, companies like Alphabet’s (GOOGL - Free Report) Google, Roku (ROKU - Free Report) , Apple (AAPL - Free Report) and Comcast are making concerted efforts to capitalize on the streaming device space growth potential, which is giving rise to the market competition.
Nevertheless, Amazon’s aggressive efforts toward delivering enhanced user experience on the back of advancing Fire TV features and improving Alexa skills on Fire TV make it a strong contender in the battle.
Currently, Amazon Carries a Zacks Ranks #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2021.
Click here for the 6 trades >>