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Why Amazon Stock Dropped This Week

TheMotleyFool

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Why Amazon Stock Dropped This WeekPhoto, wide shot, wide-angle lens, Home appliance manufacturer, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Michael Light: https://img.theapi.app/temp/5d70b6df-fa9b-4237-9702-39c36cb1d4f8.png

Shares of Amazon.com (NASDAQ: AMZN) plunged 12% this past week, according to data from S&P Global Market Intelligence, furthering the decline in the online retail giant's stock price since its third-quarter earnings report on Oct. 27.

Amazon's net sales grew by 15% year over year to $127.1 billion. Excluding foreign exchange movements, the e-commerce leader's revenue was up 19%.

However, sales growth at Amazon Web Services slowed to 27% from 33% in the second quarter and 39% in the year-ago period. AWS, as the division is often called, is Amazon's most important profit driver, so investors were understandably concerned about the deceleration in the segment's pace of expansion.

Source Fool.com

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