This article was originally published on TipRanks.com
Technology majors Amazon (NASDAQ: AMZN), Cisco (NASDAQ: CSCO) and defence major Lockheed Martin (NYSE: LMT) recently announced that they will be collaborating to integrate unique human-machine interface technologies into NASA’s Orion spacecraft.
Following the news, shares of Amazon declined 1.9% on Wednesday. However, the stock pared its losses slightly to close at $3,291 in the extended trading session.
The partnership is aimed at providing astronauts with the benefits of far-field voice technology, AI and tablet-based video collaboration.
Under this collaboration, the Callisto technology demonstration will be integrated into NASA’s Orion spacecraft for the agency’s Artemis I uncrewed mission around the Moon and back to Earth.
While Callisto uses Amazon Alexa and Webex by Cisco to test and demonstrate commercial technology for deep space voice, video and whiteboarding communications, Lockheed Martin is leading the development and integration of the payload.
The Vice-President of Amazon Alexa, Aaron Rubenson, said, “We’re proud to be working with Lockheed Martin to push the limits of voice technology and AI, and we hope Alexa’s role in the mission helps inspire future scientists, astronauts and engineers who will define this next era of space exploration.”
Recently, RBC Capital analyst Brad Erickson reiterated a Buy rating on the stock with a price target of $4,000, which implies upside potential of 21.7% from current levels.
Consensus among analysts is a Strong Buy based on 30 unanimous Buys. The average Amazon stock price prediction of $4,137.50 implies upside potential of 25.9% from current levels. Shares have gained 4.7% over the past year.
TipRanks’ Website Traffic Tool, which uses data from SEMrush Holdings (SEMR), the world’s biggest website usage monitoring service, offers insight into Amazon’s performance this quarter.
According to the tool, Amazon’s website traffic recorded a 26.53% monthly fall in global visits in November, compared to the same period last year. Moreover, the website traffic declined 5.09% year-to-date against the same period last year.
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