Amazon Surpasses 2 Trillion Market Capitalization Threshold

TapTechNews June 27, Amazon's market capitalization has exceeded the 2 trillion US dollars threshold for the first time, becoming the fifth US company to join the '2 Trillion Dollars Club' after Microsoft, Apple, Nvidia, and Alphabet (Google's parent company).

TapTechNews checked Amazon's current market capitalization, which is 2.01 trillion US dollars, with a price-earnings ratio of 54.38 and a current stock price of 193.61 US dollars. It has increased by 29.13% so far this year.

Reuters believes that due to the continued enthusiasm for artificial intelligence, optimistic expectations for the resilience of the US economy, and the possibility of the Federal Reserve easing interest rate policies, the US stock index has recorded a strong increase this year, and technology stocks have also risen as a result.

Amazon was included in the blue-chip Dow Jones Industrial Average (.DJI) in February this year and has accumulated a rise of over 26% this year.

Amazon Web Services is the world's largest cloud service provider. Thanks to the surge in the application of artificial intelligence technology, the growth of Amazon's department has resumed after a decline last year.

The company has also invested in the artificial intelligence startup Anthropic and the robot company Figure, hoping to take advantage of the booming development of artificial intelligence.

Amazon launched a new generation of custom-designed chips for data centers at the end of last year. The target application is machine learning training and generative artificial intelligence.