Amazon stock

2022 - 10 - 28

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Image courtesy of "Bloomberg"

Amazon Shares Plunge on Forecast for Sluggish Holiday Sales (Bloomberg)

Amazon.com Inc. projected sluggish sales for the holiday quarter as the e-commerce giant contends with slower growth and consumers cutting their spending in ...

Amazon Web Services, the cloud-computing division, and the advertising unit each reported muted third-quarter revenue growth by their lofty standards. The shares plunged about 13% in extended trading. Either figure would be the slowest increase ever for Amazon’s “Peak” season, which usually finds warehouse employees rushing to get orders out on time.

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Image courtesy of "Reuters"

Amazon shares slump, Big Tech peers stay afloat (Reuters)

Amazon.com Inc's shares fell about 8% on Friday after forecasting holiday-quarter sales below Wall Street estimates, while its Big Tech peers recovered from ...

"Despite accelerating revenues, Amazon has been cut down to size by the market after missing expectations. Federal Reserve to enact a series of jumbo-sized rate hikes that have Register for free to Reuters and know the full story [(INTC.O)](https://www.reuters.com/companies/INTC.O) this week [point to lower investments](/technology/tech-giants-feel-pain-cloud-spending-cuts-suggest-slowdown-2022-10-28/) as costs rise. [cost-reduction plan](/technology/intel-cuts-annual-revenue-forecast-second-time-this-year-2022-10-27/) includes layoffs and is expected to lower costs by $3 billion next year. [(AAPL.O)](https://www.reuters.com/companies/AAPL.O), however, shone bright amid a crowd of dimming lights in the Big Tech space, as the iPhone maker [reported revenue and profit](/technology/apple-revenue-profit-top-wall-street-targets-iphones-light-2022-10-27/) that topped analysts' estimates.

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