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Amazon takes a plunge

Editorial Staff

AMZN doesn't live up to investor's hopes (AMZN), the internets retail giant didn’t pan out as analyst had expected it to in the NASDAQ. Amazon made $117 million (38 cents per share) in the fourth quarter, only a shadow of its $416 million (91 cents per share) earnings during the same time last year, according to Forbes.

Barclays Capital decreased Amazon’s share from $225.00 to $190.00. However, RBC Capital cut the Amazon shares down to only $205.00.

All of this comes after the release of its much-hyped new table, the Kindle Fire. Before releasing the tablet late last year, the company predicted that it would lose $50 for each one sold. They had hoped to make up profits through their online store.

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