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Amazon (AMZN) Expands Its Blink Portfolio With New Camera
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Amazon (AMZN - Free Report) has been making strong efforts to expand its smart devices portfolio in a bid to expand its footprint in the promising smart home space.
The latest introduction of a next-generation compact plug-in camera — Blink Mini 2, testifies to the aforesaid fact.
The new camera features a compact design, built-in LED spotlight, custom-built chip and advanced privacy settings, and is compatible with Alexa. Moreover, the device can be connected to an Echo device through Alexa Blink Smarthome Skills.
Blink Mini 2 provides computer vision-enabled smart notifications, night view in color, wider field of view, and enhanced image quality.
It can not only be used indoors but also outdoors by pairing it with the Blink Weather Resistant Power Adapter.
With the latest launch, Amazon strives to provide an enhanced security experience to customers.
With the recent move, Amazon has strengthened its smart security device offerings. This bodes well with the company’s concerted efforts to bolster the Blink portfolio.
In August 2023, Amazon launched Blink Outdoor 4, which offers enhanced image quality and low-light sensitivity, improved motion detection, upgraded night vision, and two-year battery life.
The Blink portfolio also comprises Blink Video Doorbell, which offers a long-lasting battery life, wired or wire-free installation, HD day and night video, two-way audio, and alerts to users’ smartphones.
With the expanding Blink family, the company remains well-poised to capitalize on the growth prospects in the booming smart home security camera market and the smart home security market.
These markets are booming, owing to the increasing demand for smart homes and rising security threats.
The integration of artificial intelligence in security systems, and the amalgamation of biometrics, facial recognition and retina scanning are further proliferating the market.
According to a report by Grand View Research, the global smart home security camera market is expected to witness a CAGR of 19.2% between 2023 and 2030.
Per an Allied Market Research report, the smart home security market is expected to hit $112.6 billion by 2032, seeing a CAGR of 16.2% between 2023 and 2032.
We believe that the growing prospects of Amazon in these booming markets will instill investors’ optimism in the stock and aid its financial performance in the near term.
AMZN has returned 78.5% year to date, outperforming the industry’s rally of 53.4%.
For first-quarter 2024, Amazon expects net sales between $138 billion and $143.5 billion. Net sales are expected to grow 8-13% from the year-ago quarter’s reported figure. The Zacks Consensus Estimate for the metric is pegged at $142.42 billion.
Image: Bigstock
Amazon (AMZN) Expands Its Blink Portfolio With New Camera
Amazon (AMZN - Free Report) has been making strong efforts to expand its smart devices portfolio in a bid to expand its footprint in the promising smart home space.
The latest introduction of a next-generation compact plug-in camera — Blink Mini 2, testifies to the aforesaid fact.
The new camera features a compact design, built-in LED spotlight, custom-built chip and advanced privacy settings, and is compatible with Alexa. Moreover, the device can be connected to an Echo device through Alexa Blink Smarthome Skills.
Blink Mini 2 provides computer vision-enabled smart notifications, night view in color, wider field of view, and enhanced image quality.
It can not only be used indoors but also outdoors by pairing it with the Blink Weather Resistant Power Adapter.
With the latest launch, Amazon strives to provide an enhanced security experience to customers.
Amazon.com, Inc. Price and Consensus
Amazon.com, Inc. price-consensus-chart | Amazon.com, Inc. Quote
Blink Portfolio Strength
With the recent move, Amazon has strengthened its smart security device offerings. This bodes well with the company’s concerted efforts to bolster the Blink portfolio.
In August 2023, Amazon launched Blink Outdoor 4, which offers enhanced image quality and low-light sensitivity, improved motion detection, upgraded night vision, and two-year battery life.
The Blink portfolio also comprises Blink Video Doorbell, which offers a long-lasting battery life, wired or wire-free installation, HD day and night video, two-way audio, and alerts to users’ smartphones.
With the expanding Blink family, the company remains well-poised to capitalize on the growth prospects in the booming smart home security camera market and the smart home security market.
These markets are booming, owing to the increasing demand for smart homes and rising security threats.
The integration of artificial intelligence in security systems, and the amalgamation of biometrics, facial recognition and retina scanning are further proliferating the market.
According to a report by Grand View Research, the global smart home security camera market is expected to witness a CAGR of 19.2% between 2023 and 2030.
Per an Allied Market Research report, the smart home security market is expected to hit $112.6 billion by 2032, seeing a CAGR of 16.2% between 2023 and 2032.
We believe that the growing prospects of Amazon in these booming markets will instill investors’ optimism in the stock and aid its financial performance in the near term.
AMZN has returned 78.5% year to date, outperforming the industry’s rally of 53.4%.
For first-quarter 2024, Amazon expects net sales between $138 billion and $143.5 billion. Net sales are expected to grow 8-13% from the year-ago quarter’s reported figure. The Zacks Consensus Estimate for the metric is pegged at $142.42 billion.
Zacks Rank & Other Stocks to Consider
Amazon currently carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks in the retail-wholesale sector are American Eagle Outfitters (AEO - Free Report) , eBay (EBAY - Free Report) and Kroger (KR - Free Report) . American Eagle Outfitters currently sports a Zacks Rank #1 (Strong Buy), and eBay and Kroger carry a Zacks Rank #2 each. You can see the complete list of today’s Zacks #1 Rank stocks here.
American Eagle Outfitters shares have gained 9.5% year to date. It has a long-term earnings growth rate of 12.53%.
eBay shares have risen 19.7% on a year-to-date basis. The company has a long-term earnings growth rate of 6.71%.
Kroger shares have rallied 21.2% on a year-to-date basis. KR has a long-term earnings growth rate of 4.84%.