Tech company Amazon (AMZN) just introduced four new smart home devices (three speakers and one display) that are all powered by its new AI assistant, Alexa+. These include the Echo Dot Max, a small but improved speaker, along with two updated smart displays: the Echo Show 8 and the Echo Show 11. There’s also a new version of the Echo Studio, Amazon’s premium speaker. Interestingly, the devices are priced at $99.99, $179.99, $219.99, and $219.99, respectively.
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The Echo Dot Max and Echo Studio will ship on October 29, while the Echo Show 8 and Show 11 ship on November 12. Amazon says that these are its most advanced Echo devices ever, with faster performance, better microphones, custom-designed chips, and sleek, minimal designs. Daniel Rausch, who heads Amazon’s Alexa and Echo division, explained that the new AZ3 and AZ3 Pro chips allow the devices to run AI functions quickly and directly on the device, instead of relying on the cloud.
These devices also come with a new system called “Omnisense,” which gives Alexa the ability to better understand your environment and respond more personally. This means devices like the Echo Show can now recognize individual users and offer personalized insights, such as sleep summaries or alerts about unlocked doors. Amazon is rolling this out as it faces growing competition from AI-powered devices like Google’s (GOOGL) Gemini and Meta’s (META) Ray-Ban smart glasses. To stay ahead, Amazon acquired Bee, which is a startup that makes AI wristbands capable of recording and transcribing conversations.
What Is the Price Target for AMZN Stock?
Turning to Wall Street, analysts have a Strong Buy consensus rating on Amazon stock based on 44 Buys assigned in the past three months. Furthermore, the average AMZN stock price target of $266.39 per share implies 21.6% upside potential from current levels.
