Shares in Amazon - which has expanded from its origins in e-commerce to cloud services, streaming media, artificial intelligence and brick-and-mortar grocery stores - wobbled in after-market trades, showing modest gains before dipping some 0.6 per cent.Analysts pointed out that Amazon is also increasing its digital advertising revenues, a market dominated by tech rivals Google and Facebook.
Neil Saunders of the research firm GlobalData Retail, said Amazon's growth in product sales is slowing, a trend to be expected given its massive size and competition from other retailers. But Amazon's diversified business gives it more opportunities to deal with competition, the analyst noted. Amazon's Prime Video has also been in tough competition on streaming television with Netflix and new entrants and its Alexa-powered devices are seeing more rivals from other firms using digital assistants with artificial intelligence.
Source: News Formal (newsformal.com)
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