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

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

100 PE

AMZN is a losing business, no wonder

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

'Dodged bullet': How 'Fast Money' traders are responding to Thursday's Big Tech earningsAmazon, Apple and Google-parent Alphabet all reported after the bell.
Source: CNBC - 🏆 12. / 72 Read more »

Stock futures fall after earnings reports from Apple, Alphabet disappoint investorsStruggles of major tech stocks weighed on the market. Victoria E Morgan on Facebook flipped my acc to $15k in five days she's the best analyzer ever with good indicators , she's a teacher and a good mentor that wants to help people reach their goal, she's has made me happy now I trade comfortably meet her whatsapp+447378509930
Source: CNBC - 🏆 12. / 72 Read more »