So many conflicting signals, so little time to figure it all out. More on this and what else to know in markets on Monday, January 30, 2023.
In Andy Jassy’s first letter to shareholders as chief executive of ecommerce giant Amazon he pointed out how far the Echo smart speaker and Alexa personal assistant had come. Digital voice assistants from the likes of Apple, Amazon, Google, Microsoft and Samsung were expected to replace smartphone scrolling and tapping. In the latest round of job cuts, the largest in Amazon’s history, teams working on Alexa and Echo are reported to be hit particularly hard.
For the first time in 12 years, Shopify (NYSE: SHOP) is raising prices. The e-commerce software peddler hiked rates on its Basic, Shopify, and Advanced tiers by about 33%, leaving the most expensive Shopify Plus plan untouched at $2,000 a month. The move comes after Shopify has been rocked by the pandemic hangover as e-commerce growth slowed dramatically last year after booming in 2020 and 2021.