The Alexa home assistant is set to make Jeff Bezos’ company $11 billion by 2020. (David Ryder/Getty Images)
Amazon.com, Inc. (Nasdaq: AMZN) has one of the hottest gift ideas of the 2017 holiday season with its Echo devices powered by home assistant Alexa. But Amazon investors expect Alexa devices to be more than just a novelty, and RBC analyst Mark Mahaney says Alexa will drive major revenue growth for Amazon in coming years.
According to a new survey by RBC, selling Alexa-enabled devices is just the tip of the iceberg for Amazon. The true value for investors is having the Amazon ecosystem integrated into users’ homes.