Amazon.com Inc. (AMZN) and Apple Inc. (AAPL) , two of the biggest companies in the world, are deepening their ties.

On Friday, they announced they were signing an agreement for Amazon, the world's largest retailer, to offer more of Apple's products, including iPhones and iPads, on Amazon.com. 

There are restrictions to the agreement, however, with Apple's HomePod smart speaker, which competes with Amazon's own Echo devices, not not being sold on Amazon.

After the agreement takes effect, consumers can expect a larger selection of Apple products on Amazon, as well as more stable prices as Amazon down on third-party sellers of Apple's devices. 

Independent sellers who list new and used Apple products on Amazon will have until Jan. 4, 2019 before those listings are removed. Those sellers will now have to apply with Apple to become authorized sellers on Amazon.

 

The agreement does not impact Amazon's Renewed program, however, which sells certified refurbished electronic devices.  

Shares of Amazon were down 2.2%, while Apple declined 2.3% in early afternoon trading Friday. 

Apple and Amazon are holdings in Jim Cramer's Action Alerts PLUS member club. Want to be alerted before Jim Cramer buys or sells AAPL or AMZN? Learn more now.

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