Amazon is facing a ‘high-stakes shipping gauntlet’ just months after recovering from widespread delays, as it attempts to pull off its biggest Prime Day ever
- Amazon’s 48-hour Prime Day event started early Tuesday morning.
- Moody’s analyst Charlie O’Shea told Business Insider that Prime Day will serve as a litmus test to see if Amazon is able to keep up with its exponential growth.
- The sales event will trigger a surge in orders that will weigh on Amazon’s delivery network, with Moody’s estimating that the company’s fourth-quarter shipping expenses could reach nearly $20 billion.
- “They’re doing the best they can,” O’Shea said. “It’s almost like trying to plug a dam with your finger.”
- Visit Business Insider’s homepage for more stories.
Amazon just kicked off what Moody’s says will likely be the biggest — and most challenging — Prime Day of all time.
The e-commerce giant’s 48-hour Prime Day began early on Tuesday morning. The annual sales event is later than usual this year, with Amazon postponing Prime Day due to the coronavirus pandemic. But Amazon’s decision to delay the massive day of sales does not guarantee the company will be able to escape a tangle of logistical challenges and shipping delays — which could infuriate customers.
“With the 48-hour window for Prime ‘Day’ imminent, and Amazon sure to face logistical challenges due to the inevitable surge in orders, the online leader is once again facing another high-stakes shipping gauntlet,” Moody’s analyst Charlie O’Shea wrote in a report on Monday.
O’Shea told Business Insider in an interview that Prime Day is the lastest litmus test for Amazon’s exponential growth.
The competitive landscape “has never been tougher,” O’Shea said, as rivals like Walmart, Target, and Costco have thrived during the pandemic in part because of their ability to mix online sales with brick-and-mortar stores. Amazon, meanwhile, struggled with delays
FIFA is a big deal in the UK, and the launch of FIFA 21 has done big business in the UK–with some caveats. FIFA 21 is the biggest physical game launch in the UK this year, but sales are down compared to FIFA 20, and the Switch version has sold poorly.
Gamesindustry.biz is reporting that sales on FIFA 21’s boxed copies are down 42% on boxed sales of FIFA 20. There’s a few potential reasons for that–the looming next generation of systems (which will bring new versions of FIFA 21), the growth of the digital market, and the COVID-19 pandemic making players less likely to travel to a store to buy the game all factors in.
It’s unknown how well the game has sold digitally, but this is still a big launch, overtaking the launch sales of The Last of Us Part II and Animal Crossing: New Horizons (both of which are single console exclusives).
The Switch version, however, has bombed. The PS4 version of the game accounted for 62% of sales, while 36% of sales were on Xbox One, but just 2% of sales were for the Switch version.
Of course, there’s a good reason for the Switch version to have not sold–it’s a Legacy Edition, meaning it’s the exact same game as the last three FIFA titles on Switch, albeit with updated rosters. The Switch version does not have enough reviews for a rating on Metacritic yet, but the user rating is down to 0.1/10. Hopefully EA will consider releasing a more substantial update for the Switch version of FIFA 22.
Although the game will likely sell well on PS5 and Xbox Series X when those consoles launch too, it’s worth noting that you’ll get a free upgrade to the new versions if you buy the PS4 or
- Shares of Apple soared Monday, as investors looked ahead to the company’s product launch that’s expected to reveal new iPhones.
- It marks the biggest gains for the company since July 31, when Apple stock closed up 10.47% due to its blowout third quarter.
Shares of Apple soared 6.35% Monday, as investors looked ahead to the company’s product launch that’s expected to reveal new iPhones.
It marks the biggest gains for the company since July 31, when Apple stock closed up 10.47% after reporting a blowout quarter.
Apple is expected on Tuesday to reveal the first major redesign of the iPhone’s exterior since 2017. The company is also likely to release four separate iPhones at different screen sizes and prices, marking a wider range for the company than typical. It’s also expected to release iPhones with 5G cellular network, which promise faster download times.
“We expect this fall’s launch to be the most significant iPhone event in years,” Morgan Stanley analyst Katy Huberty wrote in a note this week. Huberty is forecasting Apple to ship about 220 million iPhones in its fiscal 2021, which would be up 22% year-over-year, according to the Morgan Stanley model.
Many iPhone owners are also likely due for an upgrade, according to Wedbush Securities.
“With our estimation that 350 million of 950 million iPhones worldwide are currently in the window of an upgrade opportunity, we believe this will translate into an unprecedented upgrade cycle for Cook & Co,” the analysts wrote.
Wall Street could also be using history as a gauge ahead of Tuesday’s event. Apple stock has a long history of outperforming
- Last week, the government in Shenzhen carried out a lottery to give away a total of 10 million yuan (about $1.5 million) worth of the digital currency.
- The winners can now download a digital renminbi app to receive the digital yuan and spend it at over 3,000 merchants in a particular district of Shenzhen.
- The digital yuan is not a cryptocurrency like bitcoin. Instead, it is issued and controlled by the People’s Bank of China, the country’s central bank.
GUANGZHOU, China — China has started one of the biggest real-world trials for its digital currency as it pushes closer toward creating a cashless future.
Last week, the government in Shenzhen carried out a lottery to give away a total of 10 million yuan (about $1.5 million) worth of the digital currency. Nearly 2 million people applied and 50,000 people actually won.
The winners can now download a digital renminbi app to receive the digital yuan and spend it at over 3,000 merchants in a particular district of Shenzhen. The south China technology hub is home to some of the country’s biggest tech giants including Huawei and Tencent.
Local supermarkets and pharmacies are among the participating merchants as well as Walmart, according to a post by the Shenzhen government messaging app WeChat.
China has been pushing toward a cashless society.
The digital yuan is not a cryptocurrency like bitcoin. Instead, it is issued and controlled by the People’s Bank of China, the country’s central bank. It is not looking to replace digital wallets like Alipay or WeChat Pay. It will likely work together with them and other banks.
In comparison, Bitcoin is decentralized, which means it’s not owned and controlled
Thanks to theand other issues, the Supreme Court of the United States (SCOTUS) will finally hold oral arguments in Google v. Oracle on Oct. 7, 2020. This case will decide, without exaggeration, the future of software development and billions of dollars.
As the Electronic Frontier Foundation (EFF) states, “allowing copyright on APIs is a terrible idea for computer science.” That’s because almost all modern software depends on open APIs. When your web browser works with Amazon, Apple, Microsoft — any complex site really — it communicates through APIs. When your smartphone shows you the weather, directions to your doctor’s office, or a video, it uses APIs to bridge the gap between services and servers and your devices.
That’s the theory. Developers see the reality of the threat. Hannu Valtonen, chief product officer at Aiven said:
It’s clear that an Oracle win would not be in the best interest for the software community as a whole. For startups like ours, an Oracle win would change the ability to be compatible with third-party applications and partners, as companies would have to create entirely new, but similar, APIs rather than use what already exists in the market. It would also make the current competition between tech giants much more cutthroat, as companies could potentially block the use of an API without payment and become “gatekeepers,” therefore fracturing the software environment. From an end-user standpoint, many organizations investing in software understand the need for neutral platform partners that promote successful and open innovation. An Oracle win could change this significantly, setting the software industry back a decade.”
And, it goes on and on.
Oracle argued Google had infringed Oracle’s copyright, by copying the “structure, sequence, and organization” of 37 Java APIs into Android. Google replied that an API is like