Amazon netted a $2 trillion market capitalization for the first time ever Wednesday, becoming one of a handful of companies in the world valued at over $2 trillion as the recent AI-driven tech rally continues to mint new milestones.
Amazon chairman and founder Jeff Bezos.
Amazon’s market cap eclipsed $2 trillion in early afternoon as its stock traded at a record, split-adjusted share price of $193, gaining about 3.5% Wednesday to a peak market value of about $2.01 trillion.
The online commerce colossus joins Microsoft, Apple, Nvidia and Alphabet as the world’s sole public companies worth $2 trillion or more.
Helping boost Amazon shares Wednesday was a modest tech rally, with the Nasdaq Composite up about 0.3%, and a bullish note from Bank of America analysts upping their price target for Amazon stock from $210 to $220, implying 12% further upside for the stock and a market cap of $2.3 trillion.
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