Market News

Here are the Highlights of Amazon’s (NASDAQ:AMZN) New Product Launches

Amazon (NASDAQ:AMZN) has announced new products today ahead of this year’s second Prime Day event. New this year are the following:

  • Halo Rise Sleep Tracker
  • New Echo Products
  • Ring Spotlight Cam Pro
  • Kindle Scribe
  • Fire TV Products

Halo Rise Sleep Tracker

For $139.99, customers can purchase a contactless sleep tracker that the company claims uses machine learning to measure sleep patterns and is expected to ship later in the year.

New Echo Products

Four new Echo products were released. The first two are the Echo Dot, one version with a clock and one without, which will have two times the bass of earlier models. In addition, they are able to extend WiFi connection to improve internet coverage. There is also a kids version that will feature dragon and owl designs.

The next Echo product is the Echo Auto. In addition to listening to music, it will allow users to make phone calls.

Finally, the fourth version is Echo Studio, which is Amazon’s top-of-the-line model and boasts better sound quality.

Prices for the Echo Dot, Echo Dot with Clock, Echo Auto, and Echo Studio are $49.99, $59.99, $54.99, and $199.99, respectively.

Ring Spotlight Cam Pro and Kindle Scribe

The new generation has the ability to detect movement and send alerts to a user’s phone. There is also a plus version, which gives users different options for powering the device. Prices start at $199.99.

Furthermore, the Kindle Scribe will allow readers to write on it. This will make it easier for users to take notes while reading and will be priced at $339.99.

Fire TV Products

Three new Fire TV products were released: Fire TV Cube, Fire TV Remote, and Fire TV Omni QLED Series. The Cube is 20% faster than the previous version and can improve the picture quality of older content.

The remote – the Alexa Voice Remote Pro – has a feature that allows it to be found by Alexa.

Lastly, the new Smart TV has some interesting features. Aside from better picture quality, it can be turned on or off based on whether or not someone is in the room.

The Fire TV Cube, Remote, and TV are priced at $139.99, $34.99, and $799.99, respectively.

Is Amazon Stock a Buy, Hold, or Sell?

Turning to Wall Street, Amazon stock has Strong Buy consensus rating based on 37 Buys and one Hold assigned in the past three months. The average Amazon Stock price target of $176.79 implies 51.1% upside potential.

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