You Don’t Say?

Cameron Kaine, for Seeking Alpha, posted yesterday:

With many investors (including yours truly) ready to proclaim retail and technology giant Amazon (AMZN) as the No. 1 contender to Apple (AAPL), this makes its upcoming earnings announcement on Tuesday all the more interesting.

and:

It was an instant success and was termed the “iPad killer” – much to the dismay of Apple investors.

Today, Stu Woo and John Letzing for the Wall Street Journal reports:

The Seattle-based e-commerce giant on Tuesday reported fourth-quarter revenue of $17.43 billion, up 35% from a year earlier. But profit plunged 57% to $177 million as the company continued to spend on warehouses, technology and its Kindle electronic devices. Amazon’s operating expenses rose 38% in the quarter from a year earlier, exceeding its 35% revenue increase.

Sounds like Amazon is really challenging Apple’s top spot…