Shares of Amazon.com Inc. have recently seen significant growth, resulting in the company's market capitalization exceeding $3 trillion for the first time.
Amazon has become the fifth company in history to cross this threshold. Previously, this milestone was reached by Nvidia Corp., Alphabet Inc., Microsoft Corp., and Apple Inc.
On Monday, Amazon's stock price rose by 4.7%. Since the beginning of the year, the company's market value has increased by 23.2%, which is the best performance among the so-called 'Magnificent Seven' tech companies.
Recently, Amazon released its financial report for the second quarter. During this period, the company's net profit increased more than threefold, reaching $62.6 billion, while revenue rose by 20% to $200.6 billion. This includes a 37% increase in revenue from Amazon Web Services (AWS), reaching $42.2 billion.
Following the release of the report, Amazon's market capitalization increased by approximately $400 billion. According to the average forecasts of analysts surveyed by Bloomberg, the company's shares could rise by another 14% over the next year from the current level.
