Amazon’s Prime Day is being affected by President Donald Trump’s trade war, with some brands opting out of the sale and some shoppers planning to pull back due to tariffs, Bloomberg’s Spencer Soper reports. “Prime Day will provide an early indication on consumer appetite, especially in categories like apparel, electronics and TVs, where price drops are expected to be the deepest,” said Vivek Pandya, lead analyst at Adobe, which expects Amazon and other U.S. retailers to generate $23.8B in online sales during the four-day event.
Don’t Miss TipRanks’ Half-Year Sale
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on AMZN:
- Amazon Stock (AMZN) Gets Price Target Hike as Top Analyst Sees Strong Q2 Beat
- AMD Stock Dips on Ryzen Amazon Prime Day Deals
- Amazon Stock (AMZN) Slips as Investors Worry that Prime Day Sales May Disappoint
- Amazon (AMZN) Faces Legal Heat as Alexa Privacy Class Action Lawsuit Looms
- Notable open interest changes for July 8th