Amazon Shares Slide on Morgan Stanley Downgrade

Reuters

Amazon.com Inc (NASDAQ:AMZN) shares were downgraded by Morgan Stanley analysts on Thursday on concern about competition from Apple Inc (NASDAQ:AAPL.O) and slowing sales growth.

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Analysts led by Scott Devitt lowered their rating on Amazon shares to "equal weight" from "overweight." Amazon's shares fell 4.1 percent to $176.97 in morning trading.

(Reporting By Alistair Barr; Editing by Maureen Bavdek)

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