Reported about 6 hours ago
Amazon.com Inc. experienced a stock decline in premarket trading due to a downgrade from Wells Fargo, which expressed concerns about insufficient margin growth to offset expected trends next year. Analyst Ken Gawrelski lowered the stock’s rating to equal weight and reduced the price target from $225 to $183. Despite Amazon's cloud computing division's potential for long-term demand growth, short-term visibility into earnings revisions remains limited, leading to greater scrutiny over operating income and margins.
Source: YAHOO