Sport Investors League
  • Politics
  • Stocks
  • Investing
  • Business

Sport Investors League

  • Politics
  • Stocks
  • Investing
  • Business
Business

Amazon reaches $2 trillion market cap for the first time

by admin June 28, 2024
June 28, 2024
Amazon reaches $2 trillion market cap for the first time

Amazon shares climbed more than 3% in intraday trading on Wednesday, pushing the company’s market cap past $2 trillion for the first time.

In crossing the milestone, Amazon join Nvidia, Apple, Alphabet and Microsoft, all of which are worth $2 trillion or more. Investors have piled into tech stocks recently as excitement around generative artificial intelligence has reached a fever pitch. Nvidia, which makes graphics processors for the servers that power large AI models, has been one of the biggest beneficiaries, with its market value soaring from $2 trillion to $3 trillion in just over 3 months.

Shares of Amazon have surged roughly 26% so far this year, while the tech-heavy Nasdaq has risen about 18% over the same period.

In April, the company reported first-quarter earnings that showed its Amazon Web Services business was continuing to rebound from a recent slowdown caused by businesses who trimmed their cloud spend. Amazon executives also spoke at length about how AWS can benefit from a surge in demand for generative AI services.

Investors have also cheered the company’s recent cost-cutting initiatives, which fueled Amazon’s earnings growth in recent quarters. Amazon CEO Andy Jassy has been on a multi-year quest to reign in the company’s spending, including widespread layoffs that have affected more than 27,000 Amazon employees.

It took Amazon more than four years to cross the $2 trillion milestone. Its market cap reached $1 trillion in 2020, the second time in its history after hitting the benchmark for the first time in 2018.

This post appeared first on NBC NEWS

0
FacebookTwitterGoogle +Pinterest
previous post
Large-Cap Growth Threatens the S&P Rally
next post
Rivian secures up to $5 billion from Volkswagen; shares soar 40%

Related Posts

Amazon ‘anti-union propaganda,’ employee surveillance loom over labor...

February 18, 2025

JetBlue to partner with another U.S. airline in...

April 30, 2025

Home Depot co-founder Bernie Marcus dies

November 7, 2024

Increased sausage demand may be a red flag...

August 27, 2024

Home sale commissions are getting a shake-up this...

August 18, 2024

Walmart, Chipotle and others feel the heat over...

July 10, 2024

Job scams surged 118% in 2023, aided by...

July 10, 2024

Delta CEO offers employees free flights after CrowdStrike-Microsoft...

August 5, 2024

Caroline Ellison, former FTX exec, sentenced to 2...

September 26, 2024

Meta’s head of AI research announces departure

April 2, 2025

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent

    • Trump warns of ‘massive bloodshed’ if Hamas fails to agree to peace deal: ‘MOVE FAST’

      October 6, 2025
    • Self-described ‘unapologetic supporter of Israel’ John Fetterman weighs in as Trump seeks to broker peace deal

      October 6, 2025
    • More lawmakers say they’re rejecting paychecks as government shutdown drags on

      October 6, 2025
    • Boundiali indicated gold resources grows by 53% in two month

      October 6, 2025
    • Platinum Price Pushes Past US$1,600 to Fresh 12 Year High

      October 6, 2025

    Categories

    • Business (1,115)
    • Investing (3,188)
    • Politics (3,890)
    • Stocks (1,155)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: sportinvestorsleague.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 sportinvestorsleague.com | All Rights Reserved