The discounts extend across categories, including fashion, home, beauty, toys, electronics, Amazon Devices and more.
The deals include up to 30% off for Hasbro (HAS) - Get Hasbro, Inc. (HAS) Report Games, NERF, and Play-Doh; up to 30% on Tommy Hilfiger (PVH) - Get PVH Corp. Report men’s and women’s apparel; up to 30% on Le Creuset cast iron and stoneware; 20% off on Breville Coffee Makers; up to 45% off on Shark vacuums; and up to 30% off on Samsung phones and earbuds.
Amazon stock recently traded near $3,200, down 2.6%. The shares have slipped 8% in the past month amid a correction for technology stocks and concern about slowing economic growth.
Morningstar analyst Dan Romanoff puts fair value at $4,200 for the company.
“Consumers' online shopping levels are returning to more normal levels as they shift some spending to other entertainment sources and offline shopping,” he wrote in July after second-quarter earnings.
“Meanwhile, the company continues to add capacity at a breakneck pace in order to meet customer demand and one day delivery.”
Bottom line: “We see no cracks in the long-term story as Amazon remains well positioned to prosper from the secular shift toward e-commerce and the public cloud over the next decade,” Romanoff said.
“We note revenue weakness was limited to Amazon’s own online store segment, with other segments performing well and overall profitability impressive despite lower revenue. … We see [the] shares as undervalued.”