Wall street was shocked Thursday after the close as Amazon
The stock price shot lower in after hours trading by 4.29%, holding just above the $800 per share mark. The move, for the moment will have erased over a months worth of gains all in one shot, yet still maintaining a gain on the year of over 6.5%.
In other news, Amazon announced that it would be expecting its first quarter revenue to also be below expectations. The company said it expects revenue in the range of $33.25 billion to $35.75 billion which would be below the $35.95 expectation.
One other focus in the report was on the Amazon Web Services, or AWS which had revenue of $3.53 billion, up 47% from this time last year. For the entire year AWS showed revenue of $12.2 billion which was up a nice 55%. This eased concerns that Microsoft
Finally, Amazon announced the launch of Amazon GO in Seattle, which is a new store that has no checkout counters. Simply leaving the store when your done would automatically charge your amazon account.
There are always many good things in the works for Amazon, but as for the fourth quarter it seems they have disappointed...For now.