'A Delightful Shopping Experience' Andy Jassy's Alexa Plans Sink Amazon Stock (NASDAQ:AMZN)
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Jassy noted, not unfairly, that Alexa was commonly used as a shopping tool, telling it to add things to their shopping list or placing orders through it. Thus, Jassy noted, there was room for improvement here, and started breaking down the concept. Jassy noted that Alexa+ is already free for Prime subscribers, who pay $14.99 per month, and recently added a $20 monthly subscription fee for those who are not Prime members. Jassy then advanced the idea that there could be subscription tiers later…including an ad-supported tier.
Admittedly, Alexa is not ad-free as it is. There are some ads inserted between songs via the smart speaker, or a visual ad that shows up on the display device. But Jassy wants to go farther, allowing for what reports call '…an AI-generated ad that Alexa+ delivers.' There is a certain logic to it; for those who have expressed an interest in a certain product, the opportunity to pay to have your product recommended makes sense. But the results might be inherently tainted, as customers would know the recommendation is bought and paid for.
Bond To Come
Amazon is also stretching its legs as a filmmaker thanks to its MGM connection. Jassy also pointed out that James Bond is now in Denis Villeneuve's hands, and that the legendary filmmaker should be able to do the project justice. Jassy noted, 'We cannot wait to get started on 007's next adventure.'
Villeneuve was tasked with the project back in June, and a recent report revealed who has the screenplay duty: none other than Peaky Blinders creator Steven Knight. This was not the only advance Amazon had to offer in video recently, as it also showed off the Prime Video NBA broadcast team, featuring major names like Dwyane Wade, Kevin Harlan, and several more.
Is Amazon a Good Long-Term Investment?
Turning to Wall Street, analysts have a Strong Buy consensus rating on AMZN stock based on 42 Buys and one Hold assigned in the past three months, as indicated by the graphic below. After a 39.43% rally in its share price over the past year, the average AMZN price target of $262.10 per share implies 21.31% upside potential.
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