February 16, 2012 / 3:45 PM / 8 years ago

Amazon downgraded by Morgan Stanley; shares fall

Graphics of the new Amazon Kindle tablets are seen at a news conference during the launch of Amazon's new tablets in New York, September 28, 2011. REUTERS/Shannon Stapleton

SAN FRANCISCO (Reuters) - Amazon.com Inc shares were downgraded by Morgan Stanley analysts on Thursday on concern about competition from Apple Inc and slowing sales growth.

Analysts led by Scott Devitt lowered their rating on Amazon shares to “equal weight” from “overweight.” Amazon’s shares fell 4.1 percent to $176.97 in morning trading.

Reporting By Alistair Barr; Editing by Maureen Bavdek

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