StreetInsider: Amazon (AMZN) Is Officially a Transportation & Logistics Company.
Amazon (NASDAQ: AMZN) just provided the most telling clue that it is encroaching on FedEx’s (NYSE: FDX) and UPS’s (NYSE: UPS) turf in Transportation & Logistics.
For the first time, the company described itself as a “transportation service provider” in its 10-K filing with the SEC, Baird analyst Colin Sebastian pointed out.
The firm (Baird Capital) maintained an Outperform rating and price target of $710 on AMZN.
Fortune: No, Amazon Isn’t Planning To Kill FedEx
“We are doing this in order to better serve our customers at peak times,” Amazon CFO Brian Olsavsky said on a call with analysts. “We are adding more logistics to supplement existing shipping options, and it’s not meant to replace them. We’ve had to add some resources of our own to handle our capacity at peak.”