“On Tuesday after the close, it was announced that Amazon.com, Inc. will buy Ring, the home security doorbell company, for more than $1 billion,” Bret Kenwell writes for TheStreet. “Amazon shares are up $10 apiece, or 0.66%, to $1,522 in midday trading Wednesday, as investors are reacting positively to Amazon’s further implementation into the ‘smart house’ theme.”
“In fact, its ascent is noteworthy when considering what Apple Inc. could have done in the same space,” Kenwell writes. Amazon’s “Echo is capable of integrating tons of different services, from voice-controlled temperature control, light dimming and TV navigation, among others. Amazon’s purchase of Ring will only add to those capabilities.”
Kenwell writes, “This seems like one market — given its iPad, iPhone, iCloud, iTunes, HomeKit and wearable products — [Apple] could dominate in, if it chose to get more involved. For now, though, it seems like Amazon is more focused on doing so.”
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