Additionally, soft macroeconomic conditions and credit data does not inspire much confidence regarding strong growth, he said. "In light of decelerating retail trends, 3Q consensus revenue estimates look high, calling for sequential growth despite the pull forward of Prime Day," Shmulik said. The analyst, therefore, sees risks to short-term revenue guidance. Bernstein models revenues of $114.4 billion for the second quarter and $113.6 billion for the third quarter. AMZN Price Action: At last check, Amazon shares were down 0.57% at $3,552.96. Related Link: Amazon Stock Trades In Record Territory, Buzzes On WallStreetBets