Amazon.com Inc. (NASDAQ: AMZN | AMZN Price Prediction) is in the midst of upgrading its Prime membership, and what this means is that now roughly 10 million items qualify for one-day delivery.
Currently, Amazon’s Prime membership goes for $119 for an annual membership. The firm is in the process of expanding its delivery service, with soon to be more than 10 million items available for one-day delivery.
It’s unclear when Amazon’s service will be upgraded, but more than 100 million items currently qualify for two-day delivery through its Prime service.
On the other hand, Walmart Inc. (NYSE: WMT) is looking to catch up to Amazon with its most recent delivery option. The retail giant said that it rolled out next-day delivery last month. It’s for many fewer items though. Walmart offers next-day delivery on 220,000 products in Phoenix, Las Vegas and Southern California. It plans to expand that to most of the United States by the end of the year.
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Excluding Monday’s move, Amazon had outperformed the broad markets, with its stock up about 18% year to date. In the past 52 weeks, the stock was only up about 9%.
Shares of Amazon were down more than 2% at $1,734.15 Monday morning, in a 52-week range of $1,307.00 to $2,050.50. The consensus price target is $2,170.21.
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