The US Amazon Store is
the world's largest e-commerce store, but its online sales declined sharply in
the first quarter of this year.
According to a foreign
news agency, online sales of e-commerce giant have decreased by 3% in the first
quarter of this year.
On the opposite hand, school large Apple
has conjointly expressed
concern that the new internment in
China may have an
effect on its sales up to 8
billion dollars.
According to the report, these 2 major America corporations area unit laid
low with the consequences of the provision chain and also the state of affairs created by the Ukraine war.
However, alternative Amazon
businesses, together with cloud
computing and advertising, area unit booming.
According to Amazon
chief executive Andy Jesse, the company reported a loss of 3.8 billion $ due to
the fall in Rivian's share price. Rivian's market value also declined by 7.6
billion $.
Amazon had invested in
Rivian, an electrification project in 2019. However, since the beginning of the
new year, the value of shares of these electric cars has dropped significantly.
Overall, Amazon is
forecasting a 3% increase in sales in the coming months. Whereas before that
growth has been predicted in double digits.
Andy Jesse added that
the company was also facing cost overruns due to supply chain pressures and
rising inflation. However, the total sales of Amazon Web Services (AWS) stood
at 116.4 billion.
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