We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Amazon to Launch More Alexa-Powered Devices for Homes & Cars
Read MoreHide Full Article
Amazon.com Inc. (AMZN - Free Report) has been witnessing increasing demand for its Alexa-enabled devices. As a result, the e-commerce giant is gearing up to provide new quality products to users.
Reportedly, Amazon plans to come up with at least 8 new devices supported by Alexa before the end of the year.
The company has outperformed the industry it belongs to over the past year. Shares of Amazon have gained 100% compared with the industry’s growth of 34%.
Let's discover the new Alexa-powered products
The fast-paced world that we inhabit has created a unique space for digital assistants in our lives, as syncing of these assistants with smart home products makes daily tasks easier and faster.
Apparently, Amazon has been putting in a lot of effort to expand Alexa-powered devices. Also, the rate at which the company is penetrating new markets makes us optimistic.
Reportedly, Amazon plans to come up with new products, namely subwoofer, receiver, car gadget, amplifier, microwave, among others. This growing presence will help Amazon maintain its dominance in the smarthome market. It already holds almost a majority share in this market.
We believe, these new products will allow Amazon to keep customers hooked within its ecosystem of products and services.
Alexa Continues to Gather Steam
Amazon has already made its mark in the personal assistant market, driven by its improving AI skills and machine learning (ML) techniques. Notably, Amazon’s Alexa Skills store now offers more than 45K skills created by third-party developers and also recently introduced new ML learning tools for developers to make the same even more engaging and discoverable.
Moreover, integration of Alexa with smart home speakers is aiding its market shares. All these factors have helped Amazon to gain further momentum in this particular market. According to latest data from Statista, market shares of Alexa came in at 62%, Google Assistant comprised25% while the rest of the voice assistants accounted for 13% of the combined market in 2017.
However, the personal assistant space is at a very competitive stage right now. Therefore companies like Google (GOOGL - Free Report) , Apple (AAPL - Free Report) , Microsoft (MSFT - Free Report) , among others, are strong contenders in the war of capturing consumers’ homes.
Our Take
Technology has brought about a sea change in consumption habits and platforms. Therefore, to keep pace with the change in the digital consumption patterns of books, video, music and gaming, Amazon as well as other leading technology companies like Google and Apple are investing in platforms, content and people to develop suitable technologies.
Amazon’s Echo, Fire TV, Fire TV Stick and other devices’ achievement underscores the fact that Amazon is heading toward the right direction with its Alexa-powered devices. The Alexa-powered devices are going great guns and helping the company to better sellits products and services. The idea is to make Alexa the central point connecting IoT devices used in any household and get unrivaled customer data.
The latest product innovation will definitely take Amazon Prime one step closer to being a must-have living room feature and also in the cars.
It's hard to believe, even for us at Zacks. But while the market gained +21.9% in 2017, our top stock-picking screens have returned +115.0%, +109.3%, +104.9%, +98.6%, and +67.1%.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - 2017, the composite yearly average gain for these strategies has beaten the market more than 19X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.
Image: Bigstock
Amazon to Launch More Alexa-Powered Devices for Homes & Cars
Amazon.com Inc. (AMZN - Free Report) has been witnessing increasing demand for its Alexa-enabled devices. As a result, the e-commerce giant is gearing up to provide new quality products to users.
Reportedly, Amazon plans to come up with at least 8 new devices supported by Alexa before the end of the year.
The company has outperformed the industry it belongs to over the past year. Shares of Amazon have gained 100% compared with the industry’s growth of 34%.
Let's discover the new Alexa-powered products
The fast-paced world that we inhabit has created a unique space for digital assistants in our lives, as syncing of these assistants with smart home products makes daily tasks easier and faster.
Apparently, Amazon has been putting in a lot of effort to expand Alexa-powered devices. Also, the rate at which the company is penetrating new markets makes us optimistic.
Reportedly, Amazon plans to come up with new products, namely subwoofer, receiver, car gadget, amplifier, microwave, among others. This growing presence will help Amazon maintain its dominance in the smarthome market. It already holds almost a majority share in this market.
We believe, these new products will allow Amazon to keep customers hooked within its ecosystem of products and services.
Alexa Continues to Gather Steam
Amazon has already made its mark in the personal assistant market, driven by its improving AI skills and machine learning (ML) techniques. Notably, Amazon’s Alexa Skills store now offers more than 45K skills created by third-party developers and also recently introduced new ML learning tools for developers to make the same even more engaging and discoverable.
Moreover, integration of Alexa with smart home speakers is aiding its market shares. All these factors have helped Amazon to gain further momentum in this particular market. According to latest data from Statista, market shares of Alexa came in at 62%, Google Assistant comprised25% while the rest of the voice assistants accounted for 13% of the combined market in 2017.
However, the personal assistant space is at a very competitive stage right now. Therefore companies like Google (GOOGL - Free Report) , Apple (AAPL - Free Report) , Microsoft (MSFT - Free Report) , among others, are strong contenders in the war of capturing consumers’ homes.
Our Take
Technology has brought about a sea change in consumption habits and platforms. Therefore, to keep pace with the change in the digital consumption patterns of books, video, music and gaming, Amazon as well as other leading technology companies like Google and Apple are investing in platforms, content and people to develop suitable technologies.
Amazon’s Echo, Fire TV, Fire TV Stick and other devices’ achievement underscores the fact that Amazon is heading toward the right direction with its Alexa-powered devices. The Alexa-powered devices are going great guns and helping the company to better sellits products and services. The idea is to make Alexa the central point connecting IoT devices used in any household and get unrivaled customer data.
The latest product innovation will definitely take Amazon Prime one step closer to being a must-have living room feature and also in the cars.
Amazon.com, Inc. Price and Consensus
Amazon.com, Inc. Price and Consensus | Amazon.com, Inc. Quote
Zacks Rank
Amazon currently has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Today's Stocks from Zacks' Hottest Strategies
It's hard to believe, even for us at Zacks. But while the market gained +21.9% in 2017, our top stock-picking screens have returned +115.0%, +109.3%, +104.9%, +98.6%, and +67.1%.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - 2017, the composite yearly average gain for these strategies has beaten the market more than 19X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.
See Them Free>>