Why Amazon Stock Dropped on Tuesday
Shares of Amazon.com (NASDAQ: AMZN) slid 3% through 12:30 p.m. ET on Tuesday after Reuters -- in an exclusive report -- warned that British regulators may launch an antimonopoly investigation into the company's dominance of the cloud computing marketplacej.
(NASDAQ: MSFT) -- also reported to be part of the probe -- saw its shares slide a similar 2.5%.
As Reuters reports, the British media regulator "Ofcom" (short for the Office of Communications) has actually been looking into Amazon's and Microsoft's dominance in cloud computing since April -- but is now preparing to issue an official report on Thursday.
Source Fool.com
Microsoft Corp. Stock
€394.85
0.780%
The stock is one of the favorites of our community with 106 Buy predictions and 1 Sell predictions.
With a target price of 420 € there is a slightly positive potential of 6.37% for Microsoft Corp. compared to the current price of 394.85 €.
