Amazon stock rises on Starbucks store collaboration
Yahoo Finance Live co-host Jared Blikre examines the uptick in Amazon stock following its announcement to collaborate with Starbucks for its Amazon Go stores.
Video Transcript
AKIKO FUJITA: Let's talk about one stock that you're watching though, Jared, Starbucks and Amazon.
JARED BLIKRE: Yeah, well, let's get to this, because Amazon is having a great day. Let's check out the Wi-Fi Interactive, because I'm going to put this back on. Amazon set for a record close. We haven't seen the stock this high since July.
We haven't had a record close since July. You can see pretty much sideways trading action here, but it did break out yesterday, not a lot of news, but this partnership with Starbucks is pretty interesting. So you're going to be able to go to this new Starbucks shop, which is in East-- well, I don't know the area offhand. But anyway, Amazon Go and Starbucks here kind of joining forces.
You'll be able to go and order online. And then once you get your order in the store, there's going to be an Amazon Go set up, where you can get food and refreshments. And as you know, with Amazon Go, you don't have to actually check these items out.
The Amazon app just knows. They got some tricky little cameras in there that can track you. Even if you put it back on the shelf, it knows. So combining all this technology, I see this as the future of retail.
And you look at the structure of some of these partnerships, Amazon joining with Starbucks, Amazon just dumped Visa for Mastercard. There's already a partnership in place between Starbucks, Microsoft Intercontinental Exchange. That's the parent company of the New York Stock Exchange, [INAUDIBLE].
You put all these together. And I think we're seeing a group of very strong companies that are going to be partnering in the future. So I wouldn't be surprised to see some kind of Microsoft announcement as well. And if Amazon ever does crypto, I think they're going to go with probably [INAUDIBLE], because that's who they already have the partnership with [INAUDIBLE] Mastercard. So it's going to be really interesting to see how that develops.
