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Buy Amazon because Alexa will drive $10 billion in sales by 2020, RBC’s Mahaney predicts

December 21, 2017

Via: CNBC

Amazon’s innovative voice-recognition Alexa device will boost the company’s financial results, according to one Wall Street firm.

RBC Capital Markets reaffirmed its outperform rating for the e-commerce giant, citing the firm’s positive consumer survey results for the company’s Alexa product.

“Following our third annual Alexa survey, we are more impressed with the traction of these devices and more convinced of their potential L-T term impact,” analyst Mark Mahaney wrote in a note to clients Wednesday. “With tens of millions of users and 20K+ skills, we see Alexa’s value prop as becoming increasingly powerful as awareness an ownership ramp.”

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