Innovation, third-party selling, and cashierless retail were the topics to track, according to Anthony Chukumba of Loop Capital.
This week’s release of Jeff Bezos’ annual letter to shareholders was a newsmaking event, what with the Amazon.com CEO challenging the company’s retail rivals to raise pay and putting eBay in the spotlight.Bullish analyst Anthony Chukumba of Loop Capital on Friday reiterated a Buy rating on the stock, as well as a $2,200 price target that is about 19% higher than current levels and above FactSet’s $2,128 analyst average.
“We believe Mr. Bezos’s commentary is consistent with Amazon’s strategy of shifting gross merchandise sales from first-party to third-party sales, as the latter generates much higher profit margins and returns and limits the company’s inventory risk,” Chukumba said. • Cashierless retail. Retail largely remains offline, leaving a vast market Bezos wants to tap. In his letter, he cited customers he said have called the company’s cashierless “Go” stores “magical,” saying that Amazon is ”excited about the future for them” as it tries to “delight” consumers.
• A commitment to supporting a “culture of builders.” The bigger Amazon gets, the harder it needs to swing to get balls over the fence.
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