What Happened? Shares of cloud computing and online retail behemoth Amazon (NASDAQ:AMZN) fell 7.1% in the afternoon session after the company reported underwhelming fourth-quarter results: its revenue and operating income guidance for the next quarter both fell short of Wall Street's estimates.

Amazon (NASDAQ:AMZN) is one of the last mega-cap tech titans to pull the curtain on its quarterly numbers. And to wrap up what's been a rather muted earnings season for the Magnificent Seven, Amazon failed to impress with sluggish fourth-quarter growth numbers and a downbeat sales forecast.

Amazon (NASDAQ: AMZN) stock is slipping in Friday's trading. The tech giant's share price was down 4.1% as of 2:30 p.m. ET. Meanwhile, the S&P 500 (SNPINDEX: ^GSPC) was down 1%, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) was down 1.

Amazon stock is at the bottom of the Dow Friday as the e-commerce giant's soft outlook offsets a fourth-quarter beat. This is what you need to know.