AMZN stock ended trading at $121.09 At close on October 4, 04:00 PM EDT
According to Bloomberg, Amazon (NASDAQ:AMZN) will no longer sell the Glow video conferencing system it introduced for children at the height of the COVID-19 pandemic.
After launching the Glow device with a restricted invite-only release in March, Amazon announced that it would be accessible to all American consumers. Late this month, Amazon (NASDAQ:AMZN) revealed updated models of its Fire 8 tablets, one of which cost $99 and included an 8-inch display with 13-hour battery life.
Is Amazon Stock Too Low At The Current Price?
Amazon Freezes Sales
According to Bloomberg, Amazon (NASDAQ:AMZN) will no longer sell the Glow video conferencing system it introduced for children at the height of the COVID-19 pandemic.
One of Amazon’s “grand challenge” moonshots, the video conferencing device gave kids a novel way to connect with distant family members using two screens.
Children will be able to connect with loved ones who have been invited to the event by their parents thanks to the combination of projection, video, and sensing technologies in Glow. Family members were able to replicate the actions being taken and see exactly what the children were seeing on their iPad or Android tablet.
After launching the Glow device with a restricted invite-only release in March, Amazon (NASDAQ:AMZN) announced that it would be accessible to all American consumers. Late this month, Amazon revealed updated models of its Fire 8 tablets, one of which cost $99 and included an 8-inch display with 13-hour battery life.
AMZN Stock Outlook
According to Jefferies analyst Brent Thill, “We believe AMZN’s current stock price already embeds headwinds from a recession/cost inflation and expect the market to attach a higher value to Core-Retail over time as cost headwinds are handled and profitability grows.” “AMZN has already started addressing these cost constraints; in 2Q (from 1Q), the company realized a $2B sequential cost reduction driven by cost leverage and increased route density. Even if macro headwinds create a slowdown in sales, Amazon aims to keep cutting expenses through 2022, which should support growth in operating income.
Featured Image- Megapixl @ Ifeelstock
Author Jowi Kwasu 
