Would you subscribe to Alexa? Amazon ( NASDAQ:AMZN ) hopes so

New reports from e-commerce giant Amazon (NASDAQ:AMZN) suggest that the Alexa service will be slightly overhauled… and it comes with a price. The service, previously available to users for free, will soon undergo a major update and will additionally burden your wallet. Why? It’s all thanks to artificial intelligence (AI), and this news was enough for Amazon to rise slightly on Wednesday afternoon.

Reports suggest that Alexa will receive an update that will give it artificial intelligence and greater ability to hold conversations. Meanwhile, these updates will have to be paid for in some way, so the apparently more powerful version of Alexa will come with a monthly subscription fee. This is, of course, a separate subscription fee from Amazon Prime’s $139 annual fee, and there is currently no word on how much the fee will be.

Strengthening your presence elsewhere

Meanwhile, Amazon is set to introduce a new feature to its streaming operations as the NBA is expected to formalize written agreements with the company later this week. Amazon won’t be the only beneficiary here, as both NBC (NASDAQ: CMCSA) and Disney (NYSE:DIS) I will join the action. Amazon will likely participate in the Emirates In-Season Tournament, first-round playoff games, SoFi Play-In tournament, WNBA and international rights.

Is Amazon a buy or sell stock?

Returning to Wall Street, analysts have a Strong Buy consensus rating on AMZN stock based on 42 purchases assigned over the last three months, as shown in the graphic below. After AMZN’s share price increased 59.86% over the last year, AMZN’s average price target of $220.60 per share implies a 20.11% upside potential.

Disclosure

Is it wise to allocate $1,000 for AMZN stock now?

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