Amazon continues to expand its smart devices arsenal, positioning itself strategically in the burgeoning smart home sector.
The latest addition to its lineup — the Blink Mini 2, replete with a petite frame, embedded LED spotlight, proprietary chip, and advanced privacy controls — underscores this commitment.
This new camera, featuring computer vision-powered smart alerts, colored night vision, extended field of view, and superior image resolution, offers a versatile indoor-outdoor utility when paired with the Blink Weather Resistant Power Adapter.
By unveiling the Blink Mini 2, Amazon endeavors to create a more robust security ecosystem for its consumers.
Amazon.com, Inc. Price and Consensus
Amazon.com, Inc. price-consensus-chart | Amazon.com, Inc. Quote
Enhancing the Blink Portfolio
This move underscores Amazon’s commitment to bolstering its smart security solutions. It builds upon the success of the Blink product family.
Earlier in August 2023, Amazon introduced Blink Outdoor 4, boasting improved resolution, low-light sensitivity, motion detection, night vision, and a prolonged battery life of two years.
The Blink series is further strengthened with offerings like the Blink Video Doorbell, equipped with enduring battery life, flexible installation options, high-definition day and night video, two-way audio, and smartphone alerts.
By diversifying the Blink product suite, Amazon positions itself favorably to seize opportunities in the thriving smart home security camera and overall smart home security markets.
These markets, fueled by the demand for automated homes and escalating security concerns, witness substantial growth.
The integration of AI in security systems and advancements like biometrics, facial recognition, and retina scanning further propel market expansion.
Experts predict a robust CAGR of 19.2% for the global smart home security camera market between 2023 and 2030, per a report by Grand View Research.
A separate report by Allied Market Research forecasts the smart home security market to reach $112.6 billion by 2032, with a CAGR of 16.2% between 2023 and 2032.
With Amazon’s escalating presence in these flourishing markets, investors are anticipated to view the company’s outlook positively, potentially boosting its financial performance in the foreseeable future.
Year to date, AMZN has delivered a remarkable return of 78.5%, surpassing the industry’s overall rally of 53.4%.
In the first quarter of 2024, Amazon anticipates net sales in the range of $138 billion to $143.5 billion. This reflects an 8-13% expansion from the corresponding quarter of the previous year, with the Zacks Consensus Estimate standing at $142.42 billion for this metric.
Zacks Rank & Other Standout Stocks
Currently holding a Zacks Rank #2 (Buy), Amazon is among the top choices in the retail-wholesale segment.
Other notable stocks in this category include American Eagle Outfitters (Zacks Rank #1), eBay (Zacks Rank #2), and Kroger (Zacks Rank #2).
American Eagle Outfitters has registered a 9.5% year-to-date increase, coupled with a robust long-term earnings growth rate of 12.53%.
eBay has seen a 19.7% rise in its stock this year, with a long-term earnings growth rate of 6.71%.
Kroger, on the other hand, has surged by 21.2% since the start of the year, with a long-term earnings growth rate of 4.84%.
Infrastructure Stock Boom to Sweep America
A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made
The only question is “Will you get into the right stocks early when their growth potential is greatest?”
Zacks has released a Special Report to help you do just that, and today it’s free. Discover 5 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.
Download FREE: How To Profit From Trillions On Spending For Infrastructure >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Amazon.com, Inc. (AMZN) : Free Stock Analysis Report
American Eagle Outfitters, Inc. (AEO) : Free Stock Analysis Report
eBay Inc. (EBAY) : Free Stock Analysis Report
The Kroger Co. (KR) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
