What's Going On With Amazon Stock Monday

Amazon.Com, Inc AMZN continues to win investor attention amid reports of canvassing telecom operators like DISH Network Corp DISH, Verizon Communications Inc VZ, T-Mobile US, Inc TMUS about offering Prime subscribers $10 a month or possibly for free. The telecom operators and Amazon denied the reports.
Wall Street firms, including Moffett Nathanson and Bank of America, remained skeptical of the reports. Amazon's cost to the company of providing even a single line would be about $240 a year—above the annual cost of an Amazon Prime membership, currently at $139. And that's just for one line—the costs would multiply with more prominent families. Also, the move could subject Amazon to FCC regulation adding to its existing regulatory worries.
Also Read: Streamers Vs Smoke Screens: How Netflix, Amazon, and Disney Respond to India's Tobacco Warning Rules
HSBC analyst Adam Fox-Rumley maintains T-Mobile US with a Buy and lowers the price target from $185 to $165. Fox-Rumley reiterates Verizon with a Hold and lowers the price target from $42.5 to $39. Fox-Rumley maintains AT&T Inc T with a Buy and lowers the price target from $21 to $19.
Separately, Vimeo, Inc VMEO halted support for its existing TV apps, including Apple Inc AAPL Apple TV, Android TV, Amazon Fire TV and Fire TV Stick, and Roku, Inc ROKU as of June 27, 2023.
Vimeo's closure marks its retiring legacy products and features inconsistent with its standards.
Price Action: AMZN shares traded higher by 1.06% at $125.59 on the last check Monday.

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