Image: FlickrAmazon's shareholders are becoming increasingly concerned about the retailer's growth prospects after it announced sales are likely to be lower than initially forecast.
The tech giant's shares dropped 5% despite also announcing record sales and profits for the Christmas period. It's because Amazon said it expects sales to rise 10-18% in the few three months of 2019, which is lower than initially expected.The company's profits for the Christmas shopping season were up 63% to $3 billion (£2.2bn), while sales hit a record $72.4bn, up 20%.
Industry experts are suggesting that the slower growth forecasts comes as traditionally physical retailers Target and Walmart invest heavily in their online operations in an effort to bridge the gap.
