Amazon (NASDAQ:AMZN) plans to host a major fall hardware event on September 30 in New York City. The e-commerce giant is expected to unveil new Echo devices, refreshed Kindle devices, and other smart home innovations during the event.
Typically, Amazon (NASDAQ:AMZN) uses the fall hardware event as a launchpad for its upcoming consumer electronics product, although it was much smaller in scope in 2024. Notably, this year’s event will be the first full hardware reveal since Panos Panay joined Amazon (NASDAQ:AMZN) to oversee its Devices and Services division in late 2023. Industry insiders expect a major focus on Alexa upgrades following the recent rollout of Alexa+, with its generative AI and conversational improvements.
Shares of Amazon (AMZN) were up 1.4% in mid-morning trading on Monday. The e-commerce stock traded at the upper end of its 52-week range of $161.38 to $242.52. Wall Street analysts have a consensus Strong Buy rating on Amazon (AMZN), while the Seeking Alpha Quant Rating is only at Hold.