For a while there, online retail giant Amazon (AMZN) looked like it was about to do something drastic, presenting displays of how much prices are going up on some items due to the Trump administration’s tariff plans. After significant backlash, however, Amazon walked back said plans, and would not end up posting same. Investors castigated Amazon for might have been cowardice, or might have been petty politicking, because shares slipped fractionally in Tuesday afternoon’s trading.
Amazon was originally considering showing “import charges” alongside certain items. It was also considering expanding that to the Haul section, its section specifically geared to low-price items. Naturally, at the time, the White House responded as bigly as you could expect, referring to the planned pictures as a “…hostile and political act.” Naturally, the White House mused over the point that Amazon did not bother with such displays back when inflation soared under the Biden Administration, so why bother starting now?
And apparently, Amazon ultimately agreed. It announced that the plan to do so “…was never approved…,” and then followed that up by declaring it was “…not going to happen.” This actually drew White House praise, with Howard Lutnick, current Commerce Secretary, noting that it was a “…good move.”
Hitting Saks Fifth Avenue on Amazon
Meanwhile, for those who want a more upscale shopping experience on Amazon, you are about to get it in a big way. A new collaborative effort between Amazon and Saks Fifth Avenue will see a “…curated selection of luxe pieces…” available on the site.
Several major Saks brands will be on hand, including Moschino, Fear of God, Stella McCartney, and several others. Clothing and shoes will be front and center, but accessories will also be in play, as will beauty products. The available items will be updated regularly, reports note, and new brands will be coming into play as well. So if you happen to be in the market for an $890 pair of Stella McCartney Kitten-Heel Mules, you will absolutely be able to get in.
Is Amazon a Good Long-Term Investment?
Turning to Wall Street, analysts have a Strong Buy consensus rating on AMZN stock based on 46 Buys and one Hold assigned in the past three months, as indicated by the graphic below. After a 6.3% rally in its share price over the past year, the average AMZN price target of $245.33 per share implies 31.68% upside potential.
