From Nasdaq: 2024-06-27 09:28:00

1. Amazon.com, Inc’s shares surged 3.9% on Jun 26, pushing its market valuation past $2 trillion for the first time. This milestone places Amazon as the first in the Internet-Commerce sub-industry and fifth overall to reach this landmark figure, joining other tech giants in the $2-$3 trillion range.

2. Amazon has seen a share price increase of 27.4% this year, with strong Q1 2024 earnings of 98 cents per share exceeding estimates. Revenues hit a new high of $143.3 billion, pointing to 13% growth YoY. Its AI advancements have been a driving factor in the revival of mega-cap tech stocks.

3. AWS is the leading cloud services provider globally, with Amazon investing in AI startups to capitalize on the AI boom. The company’s focus on generative AI technologies is expected to boost demand for AWS and its AI platforms, driving further growth in the future.

4. Despite a high forward P/E ratio of 40.67, investors remain optimistic about Amazon’s future profitability. The company’s AI investments and continued growth trajectory have positioned it as a leader in the tech industry, attracting interest from both investors and consumers alike.



Read more at Nasdaq: Amazon (AMZN) Gains 3.9% to Breach the $2 Trillion Mark