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Amazon shares tank 4% on weakness in cloud computing unit after Q1 forecasts miss Wall Street estimates

News Snapshot:

Amazon share price today: Shares of US retail giant Amazon.com fell four per cent on Friday, February 7, 2025, after the technology heavyweight's quarterly cloud computing revenue growth disappointed Wall Street investors waiting for a bigger payoff from the heavy spending on artificial intelligence (AI). Friday's share drop erased about $100 billion from Amazon's market value. One of Wall Street’s most influential companies, Amazon has topped analysts’ expectations for earnings at the end of 2024, but its stock price nevertheless dropped on Friday after investors focused instead on its forecast for upcoming revenue growth in the first quarter, which fell…

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