In today's edition of Motley Fool's Stock of the day, Motley Fool tech analyst Jamal Carnette and Matt Trogdon discuss Amazon's (NASDAQ:AMZN) moves into the smartphone space.

The market seems to be sobering up today after its initial euphoria. And that's understandable, it will be hard for Amazon to compete with smartphone giants Apple and Samsung on hardware specs and ecosystems.

But Jamal argues that isn't what Amazon is trying to do. One of its defining features is Firefly, a feature that allows you to take a picture of any product and instantly buy it through Amazon's marketplace – or put it on your wish list. That's what Jeff Bezos is trying to do, to disrupt the business model of cell phones by making it a "phone-shaped buying device" rather than a mere phone.

Even if the phone itself isn't hugely successful, what it shows to investors is that Amazon will continue to redefine the shopping experience – it is a great long-term buy.