Amazon’s Market Value Reaches Two Trillion Dollars Thanks to AI

Amazon has achieved a historic milestone by reaching a market value of two trillion dollars for the first time,
driven by the AI boom that pushed its stock price to record levels.

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Amazon’s stock rose by 3.6% on Wednesday, reaching $193.04,
which pushed its market value past the two trillion dollar mark.
This achievement places Amazon in the elite club of companies that have surpassed this threshold.
Alphabet reached this milestone in late April, while Nvidia, Microsoft,
and Apple have surpassed the three trillion dollar mark.

Amazon’s stock has experienced significant fluctuations since the announcement of its first-quarter earnings,
with its cloud unit recording the strongest sales growth in a year.
This helped the stock return to its highest level in April.
The stock continued to rise in June, recovering its losses from late May and achieving a 27% increase so far this year.

Amazon’s stock price benefited over the past year from cost-cutting measures
and business restructuring to better capitalize on the AI boom.
Additionally, Amazon Web Services showed signs of accelerating growth,
which boosted investor optimism.

According to Dan Romanoff, an analyst at Morningstar Investment Service,
Amazon’s strong stock performance over the past six to nine months
is partly due to its oversold status at the end of 2022.

Amazon’s Market Value Reaches Two Trillion Dollars Thanks to AI

Amazon&#8217;s Market Value Reaches Two Trillion Dollars Thanks to AI

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Amazon’s Market Value Reaches Two Trillion Dollars Thanks to AI