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Ken Sena, a senior analyst at Evercore ISI, was a guest on "Bloomberg Surveillance" Wednesday to offer his take on how important Amazon.com, Inc.'s (NASDAQ: AMZN) Echo device is to the company's future.
According to Sena, Amazon's intelligent personal assistant was one of the most talked about devices at the Consumer Electronics Show. The analyst added that the technology also happens to be in its very stages and is reminiscent of the early days of search technology, when the public wondered just how far advanced it can become.
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Sena added that the technology is also scalable and Amazon is doing a good job of opening it up to businesses and third parties through its Amazon Web Services.
On the other hand, Sena believes Amazon's Echo service and similar technologies won't ever reach the saturation levels that smartphones currently enjoy.
The analyst went on to cite data from Gartner which suggests that by 2018, 30 percent of all interactions will be through voice since it's up to four times faster to ask a question than type it out.
Bottom line, Amazon's investments in new technologies like Echo don't necessarily impact the company's bottom line and may even suppress the company wide margins. Nevertheless, these new segments are indeed yielding positive results and exciting investors.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.