Amazon's New Alexa Products Include Microwave You Can Talk To

Amazon (AMZN) is unveiling at least eight new Alexa products Thursday Sept. 20, in Seattle, where the tech behemoth is headquartered.

The devices, which add to Amazon's menu of 11 smart speakers on sale, will include a voice activated microwave oven, an amplifier, a subwoofer, and a device meant to be used in a car. Some of the devices will be Alexa compatible, meaning that they'll have the ability to connect with Alexa, and some of them will have Alexa built in. Alexa is Amazon's name for an artificial intelligence device that can recognize voice commands to do such things as play music or turn the lights on and off.

The market for smart speakers, of which Amazon controls about 61% according to voicebot AI, is set to expand. People are expected to spend roughly $24 billion on smart speakers by 2024, up from $4.5 billion currently, according to Global Market Insights. And Amazon wants to continue cashing in on that. CEO Jeff Bezos said on Amazon's most recent earnings release that one of the company's goals is to allow people to use Alexa devices "wherever they are."

Amazon has recently seen some increased competition in smart speakers, as Sonos (SONO) went public in early August.

Amazon recently reached a $1 trillion valuation, but has since dropped from that peak. It's looking to its voice activated device sales to help it get back to that level. Amazon shares rose $18.70, or just under 1%, to $1,945.12 in trading on the Nasdaq stock exchange.

Start, and end, your trading day right with TheStreet's 'Daily Snapshot' on your favorite smart-speaker. Learn more about TheStreet's market coverage for your trusted smart-speaker here.

Amazon is a holding in Jim Cramer's Action Alerts PLUS member club. Want to be alerted before Jim Cramer buys or sells AMZN? Learn more now.

 To be a profitable investor and build long-term wealth, you need the right information and techniques. Join TheStreet Oct. 13, 2018, for a special investing event for sophisticated and active traders. Register for "Invest Like the Pros: Jim Cramer's Boot Camp for Investors" here.

More from Investing

Today's Market Action Can Be Summed Up as Nervous and Uncertain

Today's Market Action Can Be Summed Up as Nervous and Uncertain

UK Prime Minister Theresa May Survives Leadership Challenge; Pound Rallies

UK Prime Minister Theresa May Survives Leadership Challenge; Pound Rallies

Dave & Buster's Doesn't Impress Me

Dave & Buster's Doesn't Impress Me

Technically Attractive Masimo Looks Ready for a Rally Back to the Highs

Technically Attractive Masimo Looks Ready for a Rally Back to the Highs

Jim Cramer: Here's Why the Market Rallied

Jim Cramer: Here's Why the Market Rallied