The pressure is on Amazon.com to deliver on lofty expectations for cloud computing in its fourth-quarter results on Thursday.

Amazon.com Inc. shares have largely climbed on the back of two trends: strength in its cloud business and a focus on costs.

The company is also seeing a slowdown in its Azure cloud services business, triggered by capacity constraints. Start Your Mornings Smarter! Wake up with Breakfast news in your inbox every market day.

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