ROKU Stock Falls on News of Amazon Smart TV Competitor

ROKU stock is down on Tuesday following news about a new set of smart TVs from a rival in the space.

ROKU Stock Falls on News of Amazon Smart TV Competitor

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Roku (NASDAQ:ROKU) now has to deal with new smart TVs from Amazon (NASDAQ:AMZN). These new TVs from the company are boasting support for HDR, which makes them the first from Amazon to include such a feature. This has them standing as rivals to Roku’s own HDR smart TVs.

It’s also important to note that Roku smart TVs with HDR support have been around for some time. However, Amazon may be able to make up that distance. The new TVs have cheap prices and Alexa support through the built-in Fire options.

Here are the three new smart TVs with HDR support from Amazon that are coming out, according to Ars Technica.

  • 55-Inch LCD Fire TV — This model is available for purchase now and comes in at $449.99.
  • 50-Inch LCD Fire TV — This version of the new smart TVs will cost customers $379.99 when it launches on June 30.
  • 43-Inch LCD Fire TV — The final new smart TV were talking about today has a price tag of $329.99 and also comes out on June 30.

While the new smart TVs are putting pressure on ROKU Stock, it isn’t the only company that has to deal with Amazon’s growing business. The online retailer also announced a new beauty store for professionals today. This will have it competing with Ulta Beauty (NASDAQ:ULTA) and Sally Beauty (NYSE:SBH).

ROKU stock was down 3% as of noon Tuesday.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2019/06/roku-stock-falls-on-smart-tv-news/.

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