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