It's certainly not a giant miss. But given the extent of Amazon.com's rally, there was no margin for error.
The e-commerce giant said on Thursday that revenue in the fourth quarter, or holiday season, will be $42 billion to $45.5 billion, representing growth of 17 percent to 27 percent.
Analysts' expectations, according to Thomson Reuters, were for sales of $44.6 billion, so toward the high end of Amazon's range.
The stock sank 4.9 percent in extended trading to $778.
In Wall Street speak, Amazon shares were priced for perfection. The stock jumped 34 percent in the past year, by far the best performance among the largest tech companies. Amazon's price-to-sales ratio of 3.3 is significantly higher than its five-year average of 2.3, according to FactSet.
Don't expect too much panic though, even if Amazon's forecast heading into the Christmas shopping season was lighter than expected.