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7/30, 10:14 AM (Source: TeleTrader)
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JPMorgan lowers Amazon price target

JPMorgan Chase cut Amazon's price target from $4,600 to $4,100 on Friday.

The move comes after the tech giant missed estimates on the top line, reporting revenue of $113.1 billion in the second quarter of 2021. Amazon's guidance was also weaker than expected as the company now expects sales between $106 billion and $112 billion.

Amazon shares plunged over 6% to $3,364.96 in premarket trading.

Breaking the News / NP