Amazon ( AMZN Quick Quote AMZN - Free Report) unveiled eero for Service Providers in a bid to bolster Wi-Fi device offerings. Notably, eero for Service Providers, which has been developed for internet service providers (“ISP”), is a hardware and software offering thatcombines actionable insights, advanced security measures and whole-home mesh Wi-Fi systems with real-time. Further, the company is offering the eero 6 series that is based on the latest technology—Wi-Fi 6, which is known for its faster speed. Amazon strives to help ISPs in delivering enhanced customer experience on the back of fast and reliable Wi-Fi via eero for Service Providers. Moreover, ISPs will be able to cater to the increasing demand for high-speed Wi-Fi. Hence, the company is expected to witness the strong adoption of eero for Service Providers in the near term. Notably, the new offering will be made available to ISPs from the beginning of November in the United States and Canada. Expanding eero Family
The latest move bodes well for Amazon’s growing efforts toward expanding the family of eero, which it acquired in 2019.
Apart from eero for Service Providers, the company recently unveiled the mesh Wi-Fi systems namely eero Pro 6 and eero 6. Notably, both routers are based on the latest technology Wi-Fi 6, which makes them ideal for providing reliable connectivity throughout a smart home. Amazon aims todeliver enhanced user experience by supporting simultaneous connections across several devices via its new routers, which feature the Zigbee smart home hub. Wrapping Up
Notably, expanding eero family is bolstering Amazon’s presence in the booming Wi-Fi services space.
This holds promise during the ongoing pandemic, which has made the Internet a beacon of light by helping people to cope with the new normal. In fact, the importance of the Internet will continue to increase amid this pandemic, with the growing trend of learn-from-home and work-from-home,which requires fast and reliable Internet connectivity. Hence, Amazon remains well-poised to capitalize on this coronavirus outbreak-led upbeat scenario, with its robust eero hardware and software offerings. However, escalating coronavirus outbreak-related expenses remain major concerns as they might hurt the company’s profitability in the near term. Zacks Rank & Stocks to Consider
Currently, Amazon carries a Zacks Ranks #4 (Sell).
Some better-ranked stocks in the broader technology sector are Square, Inc. ( SQ Quick Quote SQ - Free Report) , Zoom Video Communications, Inc. ( ZM Quick Quote ZM - Free Report) and Qorvo, Inc. ( QRVO Quick Quote QRVO - Free Report) . All the three stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Long-term earnings growth rates for Square, Zoom Video and Qorvo are pegged at 40.9%, 25% and 12.35%, respectively.
Biggest Tech Breakthrough in a Generation
Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time. See 8 breakthrough stocks now>>