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Amazon stock hit hardest after tech earnings bonanza, despite misses by Apple and Alphabet

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Despite Amazon's mixed fourth-quarter earnings report, analysts were encouraged by the company's potential for long-term growth and efforts to tame expenses.

Amazon's fourth-quarter revenue increased 9% to $149.2 billion, topping analysts' expected $145.4 billion. But the revenue beat was overshadowed by another quarter of slowing growth in Amazon's core retail business and inAmazon said it expects revenue of between $121 billion and $126 billion in the current quarter. Analysts had been expecting $125 billion.

"Consumers sound cautious and the Cloud deceleration cadence appears to be landing in the 'mid-teens' for [the first quarter]," analysts at Piper Sandler, which have an overweight rating on Amazon shares, wrote in a note Friday. "Above all, management comments suggest AMZN is still navigating a difficult stretch," the analysts added.they remain encouraged by CEO Andy Jassy's efforts to control costs. They also believe Amazon will prove it can withstand the economic turbulence and can continue to grow in the long term.

Jassy has been working to get Amazon's costs under control after a period of unbridled expansion. Last month, the company

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AMZN is a losing business, no wonder

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