Amazon streaming hours on Prime Video are up 70% year-over-year and therefore, Luna is expected to positively impact sales. Inc (NASDAQ: AMZN) has opened up Luna, its game streaming service, to its Amazon Prime subscribers on Amazon Prime Day (June 21 and 22). This has opened up grounds for added sources of revenue and increased stock valuation for the company.

Last September, 37 analysts offered a 12-month share price target of $3,732.29 on average, with forecasted lows and highs of $3,400 and $4,200 respectively. This represents a 10.51% increase from the stock price of $3,377.00 (-0.05%) in today’s pre-market session. As the trading opened today, AMZN is at around $3,371.26 (-0.27%).

Notably, the company’s last quarterly earnings report showed a $108.52 billion revenue, up 44% year-over-year. This also beat analysts’ predictions of $105.23 billion. The company also reported $15.79 earnings per share up from %5.01 per share and contrary to analysts’ estimates of $9.54 by $6.25 per share.

Amazon Stock and Luna Gaming Service

Amazon may be inching towards as shown by its stock performance: 3.67% in 5-days, 4.69% in 1-month, 9.44% in 3-months, and 3.9% YTD. Its stock also doubled at the beginning of the pandemic owing to increased online shopping. Currently, the company plans to further raise Q2 sales to between $110-116 billion. Amazon streaming hours on Prime Video are up 70% year-over-year and therefore, Amazon Prime Day offers to bring expectations that they will positively impact sales.

The latest offer gives all Prime members in the mainland US access to a 7-day trial of the Luna cloud gaming platform. Initially, Luna’s access was limited to signing up from Amazon’s Fire TV devices. However, the company has now lifted this restriction, enabling Luna’s compatibility with Apple’s Mac, Windows PC and via the web on iPhones, iPads, and select Android phones.

For a price of $5.99 monthly, subscribers will gain access to Luna+ which has various games including Control, and GRID. An additional $14.99 monthly can be paid for the Ubisoft+ beta channel. The latter offers users an extensive platform of Ubisoft games inclusive of the latest titles from FarCry, and Assassin’s Creed franchises.

Between June 14-22, purchasers of the Luna controller will enjoy 30% discounts from the normal price of $69.99. Purchasers will also enjoy added discounts from other bundle packages.

Amazon introduced Luna in September last year as their very first foray into the gaming industry. It now rivals Xbox, Google Stadia, Game Pass, and Microsoft’s xCloud. However, certain scrutiny has already hit the Luna cloud gaming platform. Some testers claim that games load fast but the title library is quite small. In addition, smooth playing requires one to have internet speeds at a minimum of 25Mbps.

Business News, Cloud Computing, Gaming News, News, Stocks

Steve Muchoki

A financial analyst who sees positive income in both directions of the market (bulls & bears). Bitcoin is my crypto safe haven, free from government conspiracies.
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