Amazon Falls on Growth Worries

A hazy outlook for Amazon.com's (AMZN Quote) lucrative partnership business continues to weigh on the stock.

As the company's first quarter nears an end, investors are plenty nervous about the long-term outlook for the online retailer. Amazon shares jumped some 40% after the company posted its long-awaited first-ever quarterly profit in last year's fourth quarter. But worries about key executive departures and the sustainability of Amazon's fast-growing, high-margin services business have punished the shares in recent weeks.

Now comes a note from Lehman Brothers Internet analyst Holly Becker that raises several concerns about Amazon's future, focusing in part on the prospect that Amazon's service business could run out of steam. Shares fell 7% early before rebounding to trade lately at $14.32, down 51 cents or 3.4%.

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