New York (CNN Business) Amazon's rise has been relentless for more than a decade, with regulators and rivals alike failing to slow it. But now Amazon has taken a hit from a pair of immovable forces: snarled supply chains and worker shortages.
Apple AAPL The company's third-quarter earnings and sales fell well short of Wall Street's projections . It was a rare miss for Amazon that drove its stock down around 3% in mid-day trading Friday.also said Thursday that chip shortages and manufacturing disruptions caused it to miss out on $6 billion in sales in the last quarter.
Shoppers aren't what's holding Amazon back. The American economy remains strong, and demand for online shopping is growing — albeit at a slower rate than last year when stores were closed and everyone was stuck at home.
The issue: Amazon just can't get all of its stuff to customers quickly enough.
"This shows it's not regulators or competition slowing Amazon down, it's the supply chain nightmare," said Daniel Ives, a technology analyst at Wedbush Securities.
Even mighty Amazon can't fully escape supply chain pressures and labor shortages impacting businesses.
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