NEW YORK (AP) — Amazon sales surged 14% during the fourth quarter, helped by strong holiday spending and a better-than-expected growth in its prominent cloud computing unit. But shares fell more than 11% in after hours trading on Thursday as investors appeared to be spooked by the Seattle-based tech company’s plans to increase its capital spending by nearly 60% to $200 billion from last year’s $128 billion as it sees opportunities in artificial intelligence, robots, semiconductors and satellites. The company’s fourth-quarter profits also were slightly below analysts’ projections.
Amazon’s shares fall after announcing surge in capital spending but posts strong 4Q holiday sales
