Amazon Surpasses $3 Trillion Market Cap Following Strong Q2 Earnings
Shares of Amazon reached an all-time high, pushing its market capitalization above $3 trillion for the first time. This milestone followed a better-than-expected second-quarter earnings report last week that highlighted robust growth in cloud services driven by strong artificial intelligence demand. The company reported adjusted earnings per share (EPS) of $1.97 against estimates of $1.82, and revenue came in at $200.61 billion versus the expected $196.47 billion. The stock gained approximately 4% on Monday to hit a new record high for Amazon since May 5. The strong performance reflects investor confidence in Amazon's cloud division (AWS) as well as its broader business strategy, including increased capital expenditures through 2026.
Tickers: $AMZN
Topics: AI demand Amazon cloud computing market cap Q2 earnings