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Amazon.com Inc. (AMZN) is declining in the Current Market; here is why?
Amazon.com Inc. (NASDAQ: AMZN) stock is down in the current market after announcing first-quarter results. AMZN stock is currently trading at $2,404.79, losing more than 3.2% from the previous close. AMZN stock previously closed at $2,485.63 with a trading volume of 3.5 million shares.
Global Retail E-Commerce Industry
Amazon is the market leader when it comes to the e-commerce industry. The E-commerce industry saw a boom after 2010 when, after the boom of smartphones and digital literacy. The majority of the sales happen due to smartphones than someone making a purchase on a PC.
According to the estimates, the global retail industry was around $20.3 trillion in 2020. Forecasts say that this number will reach $29.4 trillion in 2025 and $39.9 trillion in 2030, with a compound annual growth rate of 7.7% and 6.3%, respectively.
AMZN: First Quarter 2022 Results
AMZN: Q2 Guidance
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