Amazon shares plunge 10% after company issues disappointing revenue forecast

Amazon shares plunge 10% after company issues disappointing revenue forecast

Shares of Amazon (AMZ) dropped after the company revealed a revenue forecast that missed analyst estimates as consumers curb online spending in the face of economic uncertainty and a return to in-person activities. The company also reported a loss on its investment in electric-vehicle maker Rivian Automotive.

Amazon was the last of Big Tech names to unveil quarterly earnings this reporting season. The tech behemoth’s cloud-computing platform Amazon Web Services (AWS) was a bright spot…


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