GMBStaff
1 Dec 23
Amazon (NASDAQ:AMZN) has contracted with rival SpaceX (SPACE) to support the deployment of its Project Kuiper internet satellites, securing three launches on SpaceX's Falcon 9 rocket with missions targeting lift-off starting in mid-2025. This agreement comes amid a fierce competition between the two...
Amazon (NASDAQ:AMZN) has contracted with rival SpaceX (SPACE) to support the deployment of its Project Kuiper internet satellites, securing three launches on SpaceX's Falcon 9 rocket with missions targeting lift-off starting in mid-2025. This agreement comes amid a fierce competition between the two companies to deliver internet-providing satellites into orbit around Earth, with SpaceX having developed its Starlink project. Additionally, this deal follows Amazon's announcement of a 100% success rate for the first test mission of its prototype Project Kuiper satellites, which were specifically designed to accommodate multiple launch providers and vehicles to reduce schedule risk and hasten their mission to connect unserved and underserved communities globally.
More about Amazon.com Inc
Amazon.com Inc is a prominent player in the retail-catalog and mail-order houses sector, with a market capitalization of $1.51 trillion. The stock has shown a strong performance, with a current price of $3,317.13 and a year-to-date increase of 53.95%. The company's stock has also outperformed the S&P 500 index, with a relative strength index (RSI) of 76.49, indicating overbought conditions. The stock is currently trading 2.357 times its book value, suggesting a potential for a breakout in the near future. However, there are potential risks associated with the stock's high valuation and the uncertainty in the market sentiment, which could lead to a reversal in the bullish trend. As such, caution is advised for investors considering entering or exiting positions in Amazon.com Inc.
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