Amazon’s (NASDAQ:AMZN) latest addition to Whole Foods will undoubtedly be welcomed by convenience fans. Amazon announced it will bring its Amazon One payment system to the entirety of Whole Foods—over 500 locations so far—by the end of 2023. With that in place, customers will be allowed to simply wave their hand over a station at checkout to pay for their purchases by linking a card to their Amazon account, and their account to their handprint. Further, Amazon account savings can also be applied from there.
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That wasn’t all Amazon had in mind, though it didn’t seem to make much difference to investors, who sold off rapidly. Amazon also recently announced its plan to ditch padded plastic mailers, switching to “recyclable alternatives” instead. There’s no specific timetable on that point, though. Amazon is also facing a $25 million fine over its Alexa system storing children’s voices despite parents’ calls for the voices’ deletion. A federal judge in Washington state handed down the ruling that hit Amazon with the hefty fine and also required several changes to its data storage.
All this added up to bad news for Amazon today, but it’s not slowing down analysts any. With 38 Buy ratings and one Hold, Amazon stock is considered a Strong Buy by analysts’ reckoning. Meanwhile, with an average price target of $144.65, Amazon stock offers an 11.02% upside potential.
