Amazon becomes first $3 trillion company as shares surge
The short version
Amazon's market capitalization exceeded $3 trillion on Monday after its shares hit a record high. The surge followed a 15% jump in stock value on Friday, driven by earnings reports and increased cloud revenue.
Amazon's shares reached a new all-time high on Monday, pushing its market capitalization above $3 trillion.2,1 The company's stock surged 15% on Friday after reporting its fastest cloud revenue growth in over four years.1 Amazon also increased its forecast for annual capital expenditure following the earnings report.1
Why it matters
Amazon is a Seattle-headquartered e-commerce and cloud computing company.1
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