Amazon.com launches its first Project Kuiper satellites

Article Excerpt

Amazon has just launched its first 27 Project Kuiper satellites into space, moving it closer to an Internet business that could compete with SpaceX’s Starlink and other rivals. AMAZON.COM INC., $210.25, remains a buy. The company (Nasdaq symbol AMZN; TSINetwork Rating: Average) (www.amazon.com; Shares o/s: 10.6 billion; Market cap: $2.2 trillion; No dividends paid), through its Project Kuiper venture, aims to build a large constellation of satellites capable of providing high-speed Internet connections to customers around the world. Amazon says it plans to invest more than $10 billion in Kuiper. In all, the company expects to have around 3,200 satellites in orbit over the next few years. Meanwhile, a major deadline is looming for Kuiper: By the end of July 2026, the company is supposed to have about 1,600 satellites in orbit, according to the terms of its license with the Federal Communications Commission. If it misses that milestone, the telecom regulator could reduce the number of total satellites Amazon is authorized to deploy,…