Thursday, June 29, 2017
Amazon's deal to acquire Whole Foods should accelerate food retailers' adoption of technology and will benefit 23 stocks, according to a CNBC news report.
"We suspect the Amazon-Whole Foods Market combination could introduce urgency into retailers' technology investments," Paul Coster, an analyst for JPMorgan, said in a note Monday.
Coster expects grocers to focus on using technology to increase transaction efficiency and develop "seamless customer shopping experiences" across mobile, the Internet and brick-and-mortar stores.
His top pick is NCR for its leadership in self-checkout technology and point-of-sale software. Other companies that could benefit from the grocers' increased investment in technology include Oracle,Pitney Bowes, Salesforce, Intel and NXP Semiconductor, Coster said.