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Why Amazon Stock Traded Lower Today

TheMotleyFool

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Shares of e-commerce and cloud computing kingpin Amazon (NASDAQ: AMZN) slumped on Tuesday, shedding as much as 2.8%. As of 2:45 p.m. ET, the stock was still down 2.3%.

The downtrend in the overall market no doubt helped to push Amazon stock lower, but mixed commentary by one of Wall Street's finest likely added fuel to the sell-off.

J.P. Morgan analyst Doug Anmuth cited several near-term headwinds as he trimmed his expectations for Amazon's first-quarter revenue and full-year earnings per share guidance, even as the company performed well during the recent holiday sales season. Anmuth mentioned inflationary pressures, as well as elevated operational and labor costs, as potentially weighing on Amazon's results.

Source Fool.com

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