What's Going On With Amazon Stock today? Is AMZN expected to rise?

Key Points:

1. Amazon launches a low-cost shopping storefront called "Haul."
2. Amazon announces its Black Friday Week and Cyber Monday deals, set to kick off on Nov. 23.

Amazon stock is trading higher after the company launched a new online storefront aimed at competing with Temu. According to a Bloomberg report, Amazon introduced a budget-friendly shopping platform called "Haul," featuring products priced to compete with deeply discounted Chinese goods from rivals like Temu and Shein.

Amazon Launches "Haul" Storefront to Compete with Chinese E-Commerce Platforms

Chinese e-commerce platforms have cultivated loyal customer bases by offering significant discounts on products, prompting Amazon to explore a similar strategy. According to reports, Amazon began discussions with China-based sellers earlier this year about launching a comparable service.

Amazon will charge a $3.99 shipping fee on orders under $25, with delivery times expected to range from one to two weeks—slower than the typical shipping times for items ordered on Amazon.com.

The beta version of Amazon’s new "Haul" storefront is currently available to shoppers through the company's shopping app. Amazon describes the platform as an "engaging shopping experience" that consolidates lower-priced products into a single, convenient destination.

Amazon Announces Black Friday Week and Cyber Monday Deals
Amazon unveiled its Black Friday Week and Cyber Monday deals on Wednesday, announcing that the sales event will run from November 21 through December 2.

Shoppers will have access to millions of deals across over 35 categories, including electronics, home goods, beauty, and fashion. New deals will be introduced daily throughout the event.

The company also highlighted the role of its new AI features, which are designed to enhance the shopping experience, making it faster and more convenient for customers this holiday season. Last year, Amazon set a record by selling more than one billion products during an 11-day sales period.

Amazon Set To Introduce New AI Chips In December

Amazon.com Inc. (NASDAQ: AMZN) is set to launch its latest artificial intelligence chips in December, marking a strategic effort to capitalize on its substantial investments in semiconductors. This move aims to lessen the company’s dependence on Nvidia Corp. (NASDAQ: NVDA) and its CEO Jensen Huang.

Amazon’s cloud division is ramping up its efforts in custom chip development to enhance data center efficiency and reduce costs for both the company and its Amazon Web Services (AWS) clients. This initiative is led by Annapurna Labs, a chip startup Amazon acquired in 2015 for $350 million. The new "Trainium 2" AI chips, designed specifically for training large-scale models, are already being tested by companies such as Anthropic, Databricks, and Deutsche Telekom, according to a report by the Financial Times on Tuesday.

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