Online retailer extraordinaire Amazon (NASDAQ:AMZN) has long made a lot of headway in selling other people’s products. But it’s also got some devices of its own, and it recently premiered a new set of them. Amazon investors were at least mildly impressed and sent Amazon shares up slightly in Wednesday afternoon trading as a result. Amazon rolled out four new versions of its Echo speaker system with varying price points and features.
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The first entry was the Echo Pop, running $39.99 with a built-in Eero system to serve as an onboard Wi-Fi booster. The Echo Show 5, for $89.99, comes with a five-inch display and improved bass response, as well as the AZ2 Neural Edge processor. The Echo Show 5 Kids edition, meanwhile, costs $10 more but gives you everything the Echo Show 5 does, along with a one-year subscription for Amazon Kids+, Amazon’s ad-free streaming service targeting the 12 and under set. Finally, Amazon rolled out the Echo Buds, the latest version of its $49.99 wireless headphones.
There was nothing particularly advanced about this set of releases, but incremental improvements are improvements nonetheless. Yet that wasn’t all Amazon had to offer, either. Indeed, it hit a milestone of over 500 million Alexa-driven devices sold. That’s a huge number by any standard and demonstrates how pervasive the Alexa system actually is.
Overall, Amazon is beloved by analysts. With 35 Buy ratings and one Hold, it’s no surprise Amazon stock stands as a Strong Buy. With an average price target of $134.24, Amazon stock boasts a 16.37% upside potential as well.
