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Amazon Reaches $2 Trillion Market Cap for First Time on Wednesday, Stock Up 3.2%

Jun 26, 2024, 06:10 PM

Amazon Inc. has reached a market valuation of $2 trillion for the first time in its history on an intraday basis. This milestone was achieved on Wednesday as the company's stock rose by 3.2%, trading at $192.23. The surge in Amazon's market value is driven by investor optimism around artificial intelligence and potential interest rate cuts. Amazon now joins an elite group of U.S. companies with market valuations exceeding $2 trillion, including Microsoft, Apple, Nvidia, and Alphabet. This achievement marks a significant milestone for Amazon, highlighting its growth and influence in the technology sector. It becomes the fifth U.S. company to surpass this level.