Amazon stock tumbles on weaker than expected sales outlook

Category: Finance

Amazon's stock dropped 4% after third quarter sales guidance fell short of analyst expectations, projecting $154 billion to $158.5 billion against a forecast of $158.43 billion. The report highlighted a trend of Big Tech companies facing scrutiny over AI spending and core business performance, with mixed results from competitors like Microsoft, Alphabet, and Meta.

Keywords: Amazon, stock market, Big Tech

Source: Yahoo Finance

Update At: 8/2/2024

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