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Amazon roundup: Morgan Stanley comments, Echo at Whole Foods

Published 08/28/2017, 10:00 AM
© Reuters. Amazon roundup: Morgan Stanley comments, Echo at Whole Foods
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  • Morgan Stanley (NYSE:MS) reiterates its Overweight rating for (NASDAQ:AMZN) with a $1,150 price target, per CNBC.
  • Analyst Brian Norwalk says Amazon’s ability to “consistently operate at razor thin margins” should extend to Whole Foods and that lowering the prices, which has started already, should lead to Whole Foods’ share gains.
  • Norwalk thinks Amazon can increase its Prime membership numbers by 8% annually for the next three years, which would amount to about 14M subscribers.
  • In related news, Amazon celebrates its Whole Foods acquisition by displaying Echo devices for sale in stores.
  • The Echo’s Alexa voice assistant might soon appear in a smart speaker from Sonos, which has higher priced products typically focused more on audio quality than smart features.
  • An FCC filing seems to show that Soros has plans for a smart speaker and rumors swirl that the speaker will feature at least Alexa likely in an attempt to better compete with Apple’s forthcoming HomePod, which will carry a premium price tag and have an audio focus more similar to Sonos than the Echo Dot.
  • Amazon shares are up 0.43%.
  • Previously: Apple (NASDAQ:AAPL) plans 4K Apple TV to regain market share (Aug. 25)
  • Now read: The Most Overhyped Company In The World

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