Amazon reaches $2 trillion market cap for the first time

Posted under: Tech Moves
Date: 2024-06-27
Amazon reaches $2 trillion market cap for the first time

Amazon's shares rose 3.9% to $193.61, pushing its market cap past $2 trillion, joining Nvidia, Apple, Alphabet, and Microsoft. Tech stock enthusiasm, driven by AI excitement, has benefited Amazon, whose shares are up 27.5% this year. Recent cost-cutting and AWS growth have boosted earnings. CEO Andy Jassy's efforts include significant layoffs.

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