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Amazon (AMZN) Strengthens eero Portfolio With Latest Launch
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Amazon (AMZN - Free Report) expanded its mesh WiFi system offerings on the back of its latest launch, eero Max 7.
eero Max 7, which is marked as Amazon’s first Wi-Fi 7 mesh system, combines patented TrueMesh networking technology with the latest standard, enhancing speeds and enabling faster downloads of 4K movies and 50GB games.
Notably, the eero Max 7 supports 2.4, 5, and 6 GHz radio bands, offers wireless and wired speeds of up to 4.3 Gbps and 9.4 Gbps, respectively.
Further, the device improves data transfer, reduces latency, and supports over 200 connected devices, supporting applications like augmented reality, 4K video streaming and gaming, with Matter support.
Moreover, the new device is designed to offer robust connectivity for smart homes, allowing customers to set up Matter-enabled devices with Alexa.
We note that the latest move will continue to aid Amazon to compete well with its industry peers like Alphabet (GOOGL - Free Report) and Netgear (NTGR - Free Report) , which are also making continuous efforts to gain a solid footprint in the mesh Wi-Fi systems market.
Notably, Alphabet is competing well with Google's Nest Wi-Fi, a mesh system that integrates with Google Assistant and compatible smart home devices, offering voice commands for controlling appliances, weather updates, messages and calendar appointments.
Meanwhile, Netgear is riding on the success of the Orbi Quad-Band WiFi 6E mesh system, suitable for large spaces of up to 9,000 square feet and capable of handling crowded networks and supporting up to 200 connected devices at a time, thanks to its 6.0Hz frequency band.
Wrapping Up
The newly launched device, which facilitates the integration of smart home devices, bodes well for Amazon’s growing focus on expanding its smart home devices portfolio.
Apart from the latest launch, Amazon recently introduced two Fire TV Sticks, the all-new Fire TV Stick 4K Max and Fire TV Stick 4K.
The Fire TV Stick 4K Max comes with Ambient Experience, which transforms the TV into a beautiful smart display and now it can turn the TV into an in-home art gallery with over 2,000 free, gallery-quality pieces of artwork. Further, the device features an upgraded 2.0 GHz quad-core processor and 16 GB of storage. It also supports Wi-Fi 6E.
The new Fire TV Stick 4K, on the other hand, comes with an updated 1.7 GHz quad-core processor and supports Wi-Fi 6. It delivers a vibrant 4K Ultra HD picture quality and an immersive Dolby Atmos audio experience.
The company also unveiled the all-new Fire TV Soundbar, which is a two-channel companion device offering bold and room-filling sound. Further, Amazon strengthened its Echo portfolio with new device launches like Echo Show 8, Echo Hub and Echo Frames for personalized, proactive and intuitive Alexa experiences.
Additionally, Amazon launched Blink Outdoor 4 to expand its smart camera offerings, with updates such as a night-vision upgade, enhanced image quality and low-light sensitivity and improved motion detection, all while maintaining its two-year battery life.
All the abovementioned endeavors bode well for the company’s growing focus to strengthen its presence in the booming smart home devices market.
Per a Future Market Insights report, the global smart home device market is expected to reach $300 billion by 2033, witnessing a CAGR of 17.8% during the period of 2023-2033.
Strong prospects in this promising market will likely aid the company’s overall financial performance in the upcoming period and instill investor optimism in the stock.
For third-quarter 2023, Amazon expects net sales between $138 billion and $143 billion. Net sales are expected to grow 9-13% from the year-ago quarter’s reported figure. The Zacks Consensus Estimate for net sales is pegged at $141.89 billion, suggesting year-over-year growth of 11.6%.
Notably, Amazon’s shares have returned 58.5% in the year-to-date period compared with the industry’s growth of 36.3%.
Zacks Rank & Another Key Pick
Currently, Amazon sports a Zacks Rank #1 (Strong Buy).
Image: Bigstock
Amazon (AMZN) Strengthens eero Portfolio With Latest Launch
Amazon (AMZN - Free Report) expanded its mesh WiFi system offerings on the back of its latest launch, eero Max 7.
eero Max 7, which is marked as Amazon’s first Wi-Fi 7 mesh system, combines patented TrueMesh networking technology with the latest standard, enhancing speeds and enabling faster downloads of 4K movies and 50GB games.
Notably, the eero Max 7 supports 2.4, 5, and 6 GHz radio bands, offers wireless and wired speeds of up to 4.3 Gbps and 9.4 Gbps, respectively.
Further, the device improves data transfer, reduces latency, and supports over 200 connected devices, supporting applications like augmented reality, 4K video streaming and gaming, with Matter support.
Moreover, the new device is designed to offer robust connectivity for smart homes, allowing customers to set up Matter-enabled devices with Alexa.
Amazon.com, Inc. Price and Consensus
Amazon.com, Inc. price-consensus-chart | Amazon.com, Inc. Quote
Competitive Scenario
We note that the latest move will continue to aid Amazon to compete well with its industry peers like Alphabet (GOOGL - Free Report) and Netgear (NTGR - Free Report) , which are also making continuous efforts to gain a solid footprint in the mesh Wi-Fi systems market.
Notably, Alphabet is competing well with Google's Nest Wi-Fi, a mesh system that integrates with Google Assistant and compatible smart home devices, offering voice commands for controlling appliances, weather updates, messages and calendar appointments.
Meanwhile, Netgear is riding on the success of the Orbi Quad-Band WiFi 6E mesh system, suitable for large spaces of up to 9,000 square feet and capable of handling crowded networks and supporting up to 200 connected devices at a time, thanks to its 6.0Hz frequency band.
Wrapping Up
The newly launched device, which facilitates the integration of smart home devices, bodes well for Amazon’s growing focus on expanding its smart home devices portfolio.
Apart from the latest launch, Amazon recently introduced two Fire TV Sticks, the all-new Fire TV Stick 4K Max and Fire TV Stick 4K.
The Fire TV Stick 4K Max comes with Ambient Experience, which transforms the TV into a beautiful smart display and now it can turn the TV into an in-home art gallery with over 2,000 free, gallery-quality pieces of artwork. Further, the device features an upgraded 2.0 GHz quad-core processor and 16 GB of storage. It also supports Wi-Fi 6E.
The new Fire TV Stick 4K, on the other hand, comes with an updated 1.7 GHz quad-core processor and supports Wi-Fi 6. It delivers a vibrant 4K Ultra HD picture quality and an immersive Dolby Atmos audio experience.
The company also unveiled the all-new Fire TV Soundbar, which is a two-channel companion device offering bold and room-filling sound.
Further, Amazon strengthened its Echo portfolio with new device launches like Echo Show 8, Echo Hub and Echo Frames for personalized, proactive and intuitive Alexa experiences.
Additionally, Amazon launched Blink Outdoor 4 to expand its smart camera offerings, with updates such as a night-vision upgade, enhanced image quality and low-light sensitivity and improved motion detection, all while maintaining its two-year battery life.
All the abovementioned endeavors bode well for the company’s growing focus to strengthen its presence in the booming smart home devices market.
Per a Future Market Insights report, the global smart home device market is expected to reach $300 billion by 2033, witnessing a CAGR of 17.8% during the period of 2023-2033.
Strong prospects in this promising market will likely aid the company’s overall financial performance in the upcoming period and instill investor optimism in the stock.
For third-quarter 2023, Amazon expects net sales between $138 billion and $143 billion. Net sales are expected to grow 9-13% from the year-ago quarter’s reported figure. The Zacks Consensus Estimate for net sales is pegged at $141.89 billion, suggesting year-over-year growth of 11.6%.
Notably, Amazon’s shares have returned 58.5% in the year-to-date period compared with the industry’s growth of 36.3%.
Zacks Rank & Another Key Pick
Currently, Amazon sports a Zacks Rank #1 (Strong Buy).
Another top-ranked stock in the broader retail-wholesale sector is BJ’s Restaurants (BJRI - Free Report) . BJRI currently sports a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
BJ’s Restaurants has lost 11.9% in the year-to-date period. The long-term earnings growth rate for BJRI is currently estimated at 15%.