Amazon ( AMZN) CEO Jeff Bezos said in an interview what Wall Street has known all along. It doesn't make any money from its devices; it sells them at cost. In an interview with the BBC, Bezos said the Kindle Fire and Paperwhite e-reader don't turn a profit, but they do break even. Shares of Amazon plunged 6.2% this week to finish at $242.36.
AMD ( AMD) fell after it reported weaker-than-expected revenue on Thursday, as the PC market continues to decline. AMD expects third-quarter revenue of approximately $1.27 billion, down 10% sequentially. AMD previously expected revenue to fall 1%, plus or minus 3%, sequentially. Analysts surveyed by Thomson Reuters were looking for sales of $1.38 billion. "The lower than anticipated preliminary revenue results are primarily due to weaker than expected demand across all product lines caused by the challenging macroeconomic environment," AMD said in a press release. AMD, which reports official results Oct. 18, fell 15% this week to close at $2.74.
Next week earnings season is in full swing, with reports from big names such as Amazon ( AMZN), IBM ( IBM), Google ( GOOG), Microsoft ( MSFT) and eBay ( EBAY), which recently refreshed its Web site, making it cleaner and easier to navigate. Interested in more on eBay? See TheStreet Ratings' report card for this stock. -- Written by Chris Ciaccia in New York >Contact by Email. Follow @Commodity_Bull