Amazon stock sinks in the after-market on weak fourth-quarter guidance (3 min read)
Amazon’s Q3 results fell short of expectation and gave a gloomy sales forecast which sent their stocks dropping in the after-market. Similar to its big tech peers, Amazon is experiencing a slowdown in their core retail business due to high inflation and rising interest rates. Amazon also expects weaker sales for the holiday season which was disappointing to investors. However, their advertising business was better than estimated and did not suffer from fewer advertisers or Apple’s iOS privacy change like Meta, Google, and Snap experienced.