Amazon.com, Inc. (NASDAQ:AMZN) shares are trading lower by 7.2% at $2,796.23 Thursday morning, possibly in sympathy with Meta Platforms Inc (NASDAQ:FB), which reported worse-than-expected fourth-quarter results. Weakness in Meta has weighed on large-cap US stocks for the session.
Read More: Meta Platforms Q4 Earnings Takeaways: Big EPS Miss, Revenue Beat, New Ticker
Traders and investors will be watching for Amazon’s fourth-quarter earnings report after market close. According to analyst consensus estimates, Amazon is expected to report quarterly earnings at $3.67 per share on revenue of $137.60 billion.
Weakness in other FAANG names has also followed Meta Platforms earnings:
- Apple Inc (NASDAQ:AAPL) is trading lower by 0.7% at $174.59
- Netflix Inc (NASDAQ:NFLX) is trading lower by 3.7% at $413.55
- Alphabet Class A (NASDAQ:GOOGL) is trading lower by 1% at $2,930.44
- Alphabet Class C (NASDAQ:GOOG) is trading lower by 1.3% at $2,921.73
Amazon has a 52-week high of $3,773.08 and a 52-week low of $2,707.04.
