Amazon Shares Surge Over 5% as Market Cap Breaches $3 Trillion, Joining Top Five Companies
Amazon’s market capitalisation exceeded $3 trillion for the first time on August 3, making it the fifth publicly traded company to reach the milestone. The stock rose about 4% for the day after spiking more than 5.7% intraday to $287.16, with the market cap closing slightly above $3.07 trillion. AWS revenue grew 37% year-on-year, the fastest pace in 18 quarters. Amazon’s year-to-date gain has climbed past 23%, the best among the Magnificent Seven, while the Roundhill Magnificent Seven ETF and the S&P 500 are up 3% and about 10%, respectively.
Amazon shares advanced in early U. S. trading on August 3, with its market capitalisation exceeding $3 trillion for the first time, making it the fifth publicly listed company to reach that milestone. The stock surged more than 5.7% intraday to a high of $287.16, before settling at $285.58 at the time of writing, giving it a market cap slightly above $3.07 trillion. Amazon joins Nvidia, Google parent Alphabet, Microsoft and Apple as the only companies ever to achieve a $3 trillion valuation. Looking at the pace of market-cap growth, Amazon first crossed $2 trillion in June 2024, taking about two years to add the next trillion, compared with more than six years to go from $1 trillion (first reached in late 2018) to $2 trillion.
The cloud-computing division, Amazon Web Services (AWS), recorded a 37% year-on-year revenue increase, its fastest growth in 18 quarters.
Amazon's shares closed about 4% higher on the day, the biggest one-day gain since May 5. Other cloud-related stocks also rose in unison: Microsoft gained nearly 5%, CoreWeave surged more than 10%, NEBIUS climbed over 7%, and IREN added more than 5%. Amazon's year-to-date gain has exceeded 23%, making it the best performer among the "Magnificent Seven". By comparison, the Roundhill Magnificent Seven ETF has risen 3% over the same period, while the S&P 500 index has gained about 10%.