#1 - Amazon.com (NASDAQ:AMZN)
At the time of this article, the port strike affecting much of the United States is on its third day. The issues on both sides are crystallizing why many companies, such as Amazon.com Inc. (NASDAQ: AMZN), are investing heavily in drone technology.
Specifically, Amazon has designed and built an autonomous electric drone system that delivers packages under five pounds in less than an hour from click to delivery through its Prime Air system.
This is currently only available in select test areas. However, Amazon has a Part 135 Air Carrier Certificate from the Federal Aviation Administration (FAA) and is working with that regulatory body to expand the number of flights it can run during the day as well as to operate during night hours. It’s also working to expand the operating flight range of its drones from 44 square miles to 174 square miles.
The Amazon analyst forecasts on MarketBeat have a consensus price target of $223.65 on AMZN stock, which would be a 22.8% upside from its price on October 3, 2024.
About Amazon.com
Amazon.com, Inc engages in the retail sale of consumer products, advertising, and subscriptions service through online and physical stores in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS). It also manufactures and sells electronic devices, including Kindle, Fire tablets, Fire TVs, Echo, Ring, Blink, and eero; and develops and produces media content.
Read More - Current Price
- $197.93
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 42 Buy Ratings, 2 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $244.11 (23.3% Upside)
