Amazon (AMZN) Investors Show Concern About Competing Fast-Delivery Service from Google (GOOG)

Just after noon Thursday, shares of Amazon.com (Nasdaq: AMZN) dipped from over $198 to under $196 in a matter of minutes following a WSJ report which suggested Google (Nasdaq: GOOG) may be working with retailers to provide a fast-delivery service.

Sources cited in the WSJ piece believe such a move would be a direct shot at Amazon. The company's Prime service has helped the retailer draw in hesitant customers since its inception in 2005, allowing subscribers who pay an annual fee of $79 delivery of items ordered online within a day or two.

Google has now brought the idea of a similar service to retailers like Gap (NYSE: GPS), OfficeMax (NYSE: OMX) and Macy's (NYSE: M). When ordering items through the respective retailers site, the Google service would activate upon order and give the user the option for next-day or even same-day delivery.

While Amazon shares seem to have reacted, Google shares are unaffected. The stock is up 2.4 percent to $613.79 at last check.

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