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Amazon outlook darkens in the face of rising competition

25
Jul
2014

(Reuters) – Amazon.com Incs heavy investment in new content and technology to fight off deep-pocketed rivals is proving expensive and analysts fear this will hurt operating earnings for some time. Shares of the company traded down 12 percent at $315 in premarket trading, as at least 11 brokerages cut their price targets on the stock by as much as $60 to $340-$460. We are in the early stages of a massive ecosystem war between Apple, Google, Amazon, Microsoft, and possibly others such as Facebook and potentially Alibaba [IPO-BABA.N], Macquarie Research analyst Ben Schachter said. Within that context, it is clear that this ecosystem war is going to be expensive and will impact margins. Amazon on Thursday forecast an operating loss of between $410 million and $810 million for the third quarter ending September, a sharp increase from a loss of $25 million a year earlier.

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