Shares of Amazon.com Inc. dropped by the most in four years on Oct. 26 after its outlook for holiday season sales missed targets, fanning concerns that Wall Street’s tech darlings are finally starting to face stronger competition.
The third-quarter results were the second time running that billionaire Jeff Bezos’ firm had fallen short of sales targets and, allied to a similar disappointment from Google-owner Alphabet, they sent a shockwave through stock markets.
