Amazon Enters the $2 Trillion Club

  • International
  • 27 June 2024
1

Amazon's market capitalization surpassed the $2 trillion mark for the first time, joining the ranks of tech giants such as Apple and Microsoft.

The rally in technology stocks with a huge market capitalization was driven by investors' enthusiasm about generative AI.

Amazon has risen 26 percent this year, outpacing the Nasdaq's 18 percent increase. The stock gained 3.9 percent to $193.61.

Amazon is planning a major revamp of the Alexa service, which it started a decade ago but has so far failed to make a profit.

Source (Al-Arabiya.net Website, Edited)

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