Supply chain nightmares are doing what regulators and rivals can't: Slow Amazon down
CNN
Amazon's rise has been relentless for more than a decade, with regulators and rivals alike failing to slow it. But now Amazon has taken a hit from a pair of immovable forces: snarled supply chains and worker shortages.
The company's third-quarter earnings and sales fell well short of Wall Street's projections. It was a rare miss for Amazon that drove its stock down around 3% in mid-day trading Friday. Apple (AAPL) also said Thursday that chip shortages and manufacturing disruptions caused it to miss out on $6 billion in sales in the last quarter.
Shoppers aren't what's holding Amazon back. The American economy remains strong, and demand for online shopping is growing — albeit at a slower rate than last year when stores were closed and everyone was stuck at home.
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CNN’s 5 Things AM brings you the news you need to know every morning.
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Federal investigators normally tasked with uncovering narcotic and financial crimes were told to prioritize the arrest of a university student with no criminal record, and not tell her that her visa was revoked, a Homeland Security Investigation agent testified Tuesday, a marked shift for the agency under President Donald Trump.
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The Department of Education began sending notices to employees that it plans to resume shrinking the department after the Supreme Court said on Monday that President Donald Trump could carry out mass layoffs.
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