Amazon.com has become the fifth company to join the "$3 trillion club" after surpassing a market capitalization of $3 trillion (approximately 4,290 trillion won) for the first time.
On August 3, according to the U.S. market capitalization tracking site CompaniesMarketCap.com, Amazon's market cap reached $3.055 trillion.
Amazon's stock closed at $284.00 on the New York Stock Exchange, up 4.58% from the previous trading day. The stock has risen over 23% this year.
The surge in Amazon's stock price was driven by strong growth in its core revenue source, Amazon Web Services (AWS), fueled by the ongoing artificial intelligence (AI) boom.
Amazon reported second-quarter revenue of $206.1 billion, a 19.6% increase from the same period last year. Earnings per share (EPS) also exceeded market expectations by 216.0%. Following the strong earnings report, Amazon's stock has continued to rise sharply.
Notably, AWS recorded its highest growth rate in over four years, and Amazon raised its annual capital expenditure (CAPEX) forecast, leading to the largest stock price increase since May 5.
Mark Hackett, chief market strategist at Nationwide, told Reuters, "The biggest concern ahead of the earnings report was whether hyperscalers would cut back on AI investments. However, there was no sign of that from Amazon or Microsoft, which eased market fears overall."
On the same day, shares of other hyperscalers also rose, with Microsoft up 4.9%, Meta Platforms up 6.0%, Alphabet up 4.4%, and Oracle up 9.2%.
* This article has been translated by AI.
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