Amazon Cancels Surveillance Partnership Amid Backlash from Super Bowl Ad
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 6 days ago
0mins
Should l Buy AMZN?
Source: Benzinga
- Ad Sparks Privacy Concerns: Amazon's Ring showcased smart home cameras in a Super Bowl ad aimed at finding lost puppies, yet it ignited public scrutiny over video surveillance, with Senator Markey expressing strong opposition, highlighting potential misuse of the technology.
- Cancellation of Flock Partnership: Amazon announced the cancellation of its partnership with surveillance firm Flock Safety, citing that the integration would require more time and resources than anticipated, reflecting the company's cautious approach to privacy issues.
- Strong Public Reaction: Although the ad ranked tenth in a USA Today poll, Markey emphasized that it instead highlighted serious privacy and civil liberties risks posed by Ring's technology, calling for Amazon to halt its facial recognition technology rollout.
- Historical Context: Since its acquisition by Amazon in 2018, Ring has faced multiple privacy controversies, and the negative backlash from this ad further exacerbates consumer concerns regarding its surveillance technology, impacting the company's public image and trustworthiness.
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Analyst Views on AMZN
Wall Street analysts forecast AMZN stock price to rise
44 Analyst Rating
41 Buy
3 Hold
0 Sell
Strong Buy
Current: 204.790
Low
175.00
Averages
280.01
High
325.00
Current: 204.790
Low
175.00
Averages
280.01
High
325.00
About AMZN
Amazon.com, Inc. provides a range of products and services to customers. The products offered through its stores include merchandise and content it has purchased for resale and products offered by third-party sellers. The Company’s segments include North America, International and Amazon Web Services (AWS). It serves consumers through its online and physical stores and focuses on selection, price, and convenience. Customers access its offerings through its websites, mobile apps, Alexa, devices, streaming, and physically visiting its stores. It also manufactures and sells electronic devices, including Kindle, Fire tablet, Fire TV, Echo, Ring, Blink, and eero, and develops and produces media content. It serves developers and enterprises of all sizes, including start-ups, government agencies, and academic institutions, through AWS, which offers a set of on-demand technology services, including compute, storage, database, analytics, and machine learning, and other services.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Partnership with Marvell: Amazon has signed a five-year agreement with Marvell Technology to secure the supply of its Trainium chips; although Marvell's stock has struggled, its networking chip business remains a significant growth area in data centers.
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