Why Amazon Stock Is Falling Today
Shares of Amazon (NASDAQ: AMZN) declined on Tuesday after Walmart (NYSE: WMT) issued a tepid sales forecast for the year ahead. As of 12:35 a.m. ET, Amazon's stock price was down nearly 3%.
Inflation may have peaked, but it's still denting consumers' budgets and forcing them to pare back their discretionary spending. That's the upshot of Walmart's fourth-quarter earnings report and conference call.
The retail colossus delivered relatively solid revenue and profits for the holiday selling season, but it warned that growth would be hard to come by in the coming year. Walmart expects its sales to grow less than 3% in its 2024 fiscal year, which began on Feb. 1.
Source Fool.com
