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Edition: U.S. Article Comments (0) Follow Reuters Facebook Twitter RSS YouTube Read Boehner opens door to cutting U.S. oil tax breaks 25 Apr 2011 UPDATE 1-Boehner opens door to cutting U.S. oil tax breaks 25 Apr 2011 Four dead in Arkansas as floods, tornadoes hit again 1:00am EDT Woman mauled to death by pit bulls in New Mexico 25 Apr 2011 Five women brutally murdered in Mexico beach resort 23 Apr 2011 Discussed 140 Texas governor calls for prayers for rain 135 Obama sees no magic bullet to push down gas prices 64 U.S. sends drones to Libya as battle rages for Misrata Watched Taliban prisoners escape Afghan jail Mon, Apr 25 2011 NATO jets bomb Gaddafi compound Mon, Apr 25 2011 Afghans show prison break tunnel Mon, Apr 25 2011 Amazon betting on cloud computing, sacrificing some profit Tweet Share this By Phil Wahba NEW YORK (Reuters) - Amazon.com Inc is thinking long-term when it spends heavily on "the cloud," but investors may see a little more short-term rain when the online retailer reports its earnings on Tuesday. The company has been... Email Print Related News Inflation jitters interrupt Wall Street rally Mon, Apr 25 2011 Morgan Stanley trading turnaround makes progress Thu, Apr 21 2011 GE's profit beat fails to stir Wall Street Thu, Apr 21 2011 iPhone helps Verizon, but not enough for some Thu, Apr 21 2011 McDonald's warns of higher food inflation Thu, Apr 21 2011 Analysis & Opinion Tech wrap: Apple beats Google to the music cloud The economic hill Obama has to climb to re-election Related Topics Technology » Hot Stocks » Asian Markets » Media » Stocks By Phil Wahba NEW YORK | Tue Apr 26, 2011 12:24am EDT NEW YORK (Reuters) - Amazon.com Inc is thinking long-term when it spends heavily on "the cloud," but investors may see a little more short-term rain when the online retailer reports its earnings on Tuesday. The company has been willing to sacrifice some profitability to win customers and build its new businesses. It has invested heavily in areas such as "cloud computing" -- which allows companies to store data on its servers -- to take on its rivals Google Inc and Apple Inc. Amazon is also laying out money to open new distribution centers and cement its lead as the world's largest online retailer. But investors were unnerved by how much those costs dented Amazon's operating margin when it last reported quarterly results, on January 27. Its shares fell 9 percent on the report, just days after hitting a 52-week high of $191.60. On average, Wall Street analysts expect Amazon to report a first-quarter profit of 61 cents per share, down from 66 cents a year earlier, according to Thomson Reuters I/B/E/S. But they expect $9.51 billion in sales, which would be 33.4 percent higher than last year. Many analysts believe that kind of growth justifies some short-term damage to profitability. "We expect Amazon will continue to take share in an accelerating growth environment and, despite near-term investment to meet accelerating growth demands, will ultimately benefit," Evercore Partners analyst Ken Sena wrote in a research note on Monday. The company itself has told investors to expect lower margins in the short term. Amazon said in January that in the first quarter, its operating margin could drop to between 2.8 percent and 3.8 percent -- below its 5.5 percent margin for the first quarter of 2010. Amazon has had some early success against its rivals in the "cloud" business. Last month, it introduced a "music locker" that allows people to store files on its servers. Apple and Google are believed to be working on similar projects, but Amazon beat them to the marketplace. Last week, disruptions to Amazon servers that host Internet services took down several social networking websites including Foursquare. Amazon said the servers were all back up and running on Monday. Despite such blips, that kind of initiative will set Amazon up for growth long term, analysts and investors said. "(Amazon) trades at a premium because it's becoming more of a dominant place in e-commerce," said Michael Koskuba, a senior portfolio manager at Victory Capital Management, which owns Amazon shares. (Reporting by Phil Wahba; Editing by Gary Hill) Technology Hot Stocks Asian Markets Media Tweet this Share this Link this Digg this Email Reprints We welcome comments that advance the story directly or with relevant tangential information. We try to block comments that use offensive language, all capital letters or appear to be spam, and we review comments frequently to ensure they meet our standards. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. Comments (0) Be the first to comment on reuters.com. 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