s that went into effect on December 1*. This implies 4% q/q growth v. 9% last quarter. Increased investments in logistics/fulfilment, AWS, marketing, Prime content and others could set Amazon up for disappointing margin guidance vs. the Street’s expectations. However, we think the Street will focus on re

SIMKINS,MORTON H CLARKE,ROSALAND PRICE,MICHAEL F VILLA DEL SUR ASSN COOK,M