Amazon Hits $2 Trillion Valuation For First Time Ever
Posted: Jun 26, 2024
- Amazon.com Inc. has reached a $2 trillion market valuation for the first time - Shares rose as much as 3.6% to $193.04, surpassing the $2 trillion threshold - Other companies like Alphabet Inc., Nvidia Corp., Microsoft Corp., and Apple Inc. have also reached market valuations of $2 trillion or more - Amazon's shares have been rallying since the first quarter earnings report, with cloud unit sales growth driving the stock higher - The company has restructured and cut costs to better take advantage of the AI market frenzy - Amazon Web Services business has shown signs of re-accelerating growth, contributing to investor optimism
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