Amazon Stock: Is the 3D Smartphone Finally Here?
The biggest potential catalyst for Amazon stock could come as early as this week. Amazon is hosting an event June 18 to introduce something new, and the rumor mill has it that the company will finally launch its mythical 3D smartphone.
Indeed, excitement over the Amazon phone has been building for so long, Amazon stock will likely take at least a short-term hit if it doesn’t debut the new gadget.
Like the Kindle Fire, AMZN will be happy to sell each device at a loss. The strategy is to make money by selling stuff on the phone — not from selling the phone itself — and that should juice revenue a little bit now, and a lot later.
Perhaps most importantly, there will almost certainly be something that entices customers to sign up for Amazon Prime (one rumor says members get the phone for free), which is another cornerstone strategy intended to make Amazon the center of the retail world.