The announcement comes several months after the firm raised fees for U.S. customers, with the goal of counteracting the operating costs, Reuters reported on July 26. However, the increases will not be the same across markets; for Germany, the hike will be 30%, for France, Spain, and Italy it will be 43%, while the UK will be 20%. These increases will be effective on September 15, when members join or renew their memberships. Moreover, this price increase could be fueled by supply chain issues companies are facing, rising inflation, and increasing fuel prices. Prime members often shop more on the site and enjoy the benefits of free delivery in one to two days; with fuel prices rising, this service is likely getting more expensive for the e-commerce giant.
AMZN chart and analysis
In the last month, AMZN has been trading in the $102.52 to $125.50 range, with prices rising lately; therefore investors looking to enter would be prudent to wait for a potential pull-back. Furthermore, over the last month, shares are up 7%, with a support zone is set up between $111.88 and $114.17, while the resistance line located at $122.42. TipRanks analysts maintain a ‘strong buy’ rating consensus, seeing the average price in the next 12 months reaching $172.91, 42.74% higher than the current trading price of $121.14. With a hectic week on Wall Street when it comes to earnings, AMZN’s price may be volatile in the upcoming days, especially once it releases earnings on July 28. Buy stocks now with Interactive Brokers – the most advanced investment platform Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
