Amazon (AMZN) on Tuesday introduced a plethora of consumer electronics gadgets, including smart displays and a home robot, at a fall product launch event. But Amazon stock fell after the news.
The Seattle-based e-commerce giant unveiled several devices that leverage its Alexa voice assistant technology. They include the Echo Show 15 smart display, which is designed to keep families organized, connected and entertained.
The device features a 15.6-inch screen and can be mounted on a wall or placed on a countertop. The customizable home screen has apps for sharing calendars, managing shopping and to-do lists and more. It also can be used for video chats and watching streaming video.
Amazon said the Echo Show 15 is designed to be “digital heart of your home.” It will cost $249.99.
Amazon Stock Drops
In afternoon trading on the stock market today, Amazon stock fell 2.8%, near 3,312.
Another Alexa-enabled device is Amazon’s first robot, which is named Astro. The robot will act as a security guard, companion and mobile smart display. It brings together new advancements in artificial intelligence, computer vision, sensor technology, and voice and edge computing, the company said.
Astro will be available for an introductory price of $999. After the introductory period, it will sell for $1,449.99. It will ship in limited quantities in the U.S. later this year.
Amazon also showed off new Halo wearable fitness trackers and services. The Halo View wearable features an AMOLED color display for at-a-glance access to health metrics. It will be available this holiday season for $79.99 and comes with a full year of Halo membership. New membership services include Halo Fitness with hundreds of studio-quality workout classes and Halo Nutrition to help build healthy eating habits.
Amazon Expands Into TV Market
Earlier this month, Amazon moved deeper into the television market with an all-new lineup of devices and its first Amazon-branded 4K smart TVs. The Amazon TV products go on sale in October. Amazon also introduced a 4K version of its Fire TV stick.
Amazon has been developing and introducing smart speakers, as well as devices for TVs and home security, for years. One goal is to get buyers of these products to use more Amazon services, such as online music streaming or TV content, including premium services that require monthly fees.
Amazon rivals in the smart-TV market include Roku (ROKU), the Google unit of Alphabet (GOOGL), and Apple (AAPL). But Amazon is the first to offer its own branded TV. The Amazon sets will be sold through its e-commerce site and Best Buy (BBY).
Amazon Stock Activity
The IBD Stock Checkup tool shows that Amazon stock has an IBD Composite Rating of 78 out of 99. The rating means Amazon stock currently outperforms 78% of all stocks. That’s in terms of the most important fundamental and technical stock-picking criteria.
But its Relative Strength Rating, a gauge of stock price strength, is a weak 45 out of 99.
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