In a recent research report, Morgan Stanley highlighted that traditional shipping giants United Parcel Service Inc (UPS) and FedEx (FDX) are facing intensifying competitive pressure as Amazon.com (AMZN) continues to expand its logistics operations and offers low-cost delivery services to third-party clients. Analysts at the firm noted that while Amazon has not yet launched an overnight delivery service, its introduction is considered "only a matter of time."

Industry reports corroborate these concerns. It is reported that, leveraging its vast logistics network and scale advantages, Amazon's parcel delivery pricing is now on par with, and in some routes even lower than, that of UPS and FedEx. Further logistics data indicates that for lightweight packages under one pound, Amazon's quoted rates are already below those of the United States Postal Service.

Amazon is actively competing for market share through strategies such as simplified pricing and the removal of residential surcharges and weekend delivery fees. One logistics data platform observed that some clients switching eligible residential packages to Amazon delivery can save up to $6 per parcel. In one case involving a major retail customer using FedEx, Amazon's coverage of over 90% of its delivery scope led to annual cost savings exceeding 33%.

Analysts believe Amazon is gradually evolving its logistics system from an infrastructure supporting its own e-commerce business into an independent operation serving external customers. Earlier this year, Amazon launched a supply chain service integrating freight, warehousing, fulfillment, and parcel delivery. Morgan Stanley previously described this move as a "watershed moment for North American freight transportation companies."

Following this warning, shares of UPS and FedEx pared earlier intraday gains. Market concerns center on Amazon's expansion not only potentially eroding e-commerce parcel share but also its potential entry into high-margin, specialized logistics fields like healthcare, posing a long-term threat to the two shipping giants for whom such businesses are strategic priorities.