Amazon gets rare negative call as Morgan Stanley cuts price target on rising wages

A worker sits on a wall dividing an informal settlement from the new Amazon fulfillment center, which is under construction at RMSG Alamar Industrial Park, in Tijuana, Mexico September 7, 2021.

Jorge Duenes | Reuters

Profit pressures lie ahead for Amazon due to rising wages, Morgan Stanley said in a rare negative note cutting its expectations for the e-commerce giant’s stock price.

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