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RBC analyst says Amazon's Alexa will add $10B in sales

Published 12/21/2017, 12:48 PM
© Reuters.  RBC analyst says Amazon's Alexa will add $10B in sales
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  • RBC Capital analyst Mark Mahaney predicts Amazon (NASDAQ:AMZN) will generate $10B to $11B in additional sales from Alexa-related services in 2020.
  • Mahaney’s optimism for the voice assistant grew after the firm’s third annual Alexa survey, which showed impressive traction and long-term potential.
  • The survey showed that Alexa awareness rose from 77% to 89% in the last nine months and the number of consumers who owned the device went up 2 percentage points from the previous survey to 15%.
  • RBC reiterates its Outperform rating and $1,200 price target for Amazon.
  • Previously: Walmart (NYSE:WMT) testing fully-automated stores (Dec. 21)
  • Now read: Amazon Won't Let Apparel Chains Party Like It's 1999


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