Amazon Makes History: First Company to Reach $2 Trillion Market Capitalization

Seattle, Washington United States of America
Amazon reached $2 trillion market capitalization on June 26, 2024
Jeff Bezos' net worth increased by nearly $6 billion on that day
Net income of $10.4 billion in Q1 2024
Stock price reached an all-time high of $193.61
Amazon Makes History: First Company to Reach $2 Trillion Market Capitalization

Amazon Makes History: First Company to Reach $2 Trillion Market Capitalization

Amazon made history on June 26, 2024, as its market capitalization surpassed the $2 trillion mark for the first time ever. The online retail giant joined Microsoft, Apple, Nvidia, and Alphabet as the world's sole public companies worth over $2 trillion.

Amazon's impressive financial performance was highlighted by its most profitable first quarter ever. The company reported a net income of $10.4 billion in Q1 2024.

The record-breaking achievement came amidst a tech rally driven by the growing interest in artificial intelligence (AI). Amazon, which has been investing heavily in AI technologies, saw its stock price reach an all-time high of $193.61 on the day.

Amazon's founder and former CEO, Jeff Bezos, also benefited from the company's growing profits and stock rally. His net worth increased by nearly $6 billion on that day, making him the second-richest person in the world with a fortune of $209 billion.

Background

Amazon's market value has been on an upward trend since the beginning of last year. The company's stock price has risen by over 130% during this period, making it one of the best-performing stocks in the tech sector.

The surge in Amazon's stock price can be attributed to several factors, including its growing bottom line and the broader investor interest in AI. The company's cloud services division, Amazon Web Services (AWS), has been a major contributor to its revenue growth.

Amazon has also been investing in AI startups and companies to capitalize on the AI boom. Some of these investments include Anthropic, a leading AI research lab, and Figure Technologies, a fintech company specializing in artificial intelligence and machine learning.

Conclusion

Amazon's achievement of reaching a $2 trillion market capitalization is a testament to its financial strength and innovative capabilities. The company's focus on AI technologies has positioned it well for future growth, making it an attractive investment opportunity for investors.


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(Site Conflicts Of Interest + Author Conflicts Of Interest) / 2.0 * 0.2 + ArticleBiasScore * 0.20 + UniquePointsScore * 0.05 + DeceptionScore * 0.20 + ReadabilityScore * 0.05 + FallacyScore * 0.20

A score that takes into consideration the content for flow, interruptions with ads, and overt search engine optimization techniques that makes the content hard to understand

Amazon's $2T market cap, consumer spending: Asking for a Trend

Yahoo Finance Josh Lipton Thursday, 27 June 2024 08:42
  • Unique Points
    • Lightspeed survey found that 51% of respondents plan to dine out at the same rate or more frequently in the next six months.
    • All 31 of the nation’s largest banks could continue to lend in the event of a severe recession according to Federal Reserve’s latest bank stress test results.
    • Varda Space Industries is utilizing microgravity for pharmaceutical research and manufacturing modules.
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    No Contradictions at Time Of Publication
  • Deception (100%)
    None Found At Time Of Publication
  • Fallacies (100%)
    None Found At Time Of Publication
  • Bias (100%)
    None Found At Time Of Publication
  • Site Conflicts Of Interest (100%)
    None Found At Time Of Publication
  • Author Conflicts Of Interest (100%)
    None Found At Time Of Publication

100%

The overall score is a weighted number that takes into account conflict of interest, bias, deception and other practices that undermine the credibility of the source. It is calculated as:
(Site Conflicts Of Interest + Author Conflicts Of Interest) / 2.0 * 0.2 + ArticleBiasScore * 0.20 + UniquePointsScore * 0.05 + DeceptionScore * 0.20 + ReadabilityScore * 0.05 + FallacyScore * 0.20

A score that takes into consideration the content for flow, interruptions with ads, and overt search engine optimization techniques that makes the content hard to understand

Amazon Is A $2 Trillion Company For First Time Ever

Forbes Magazine Derek Saul Wednesday, 26 June 2024 00:00
  • Unique Points
    • Amazon's market capitalization reached $2 trillion for the first time ever
    • Amazon joins Microsoft, Apple, Nvidia and Alphabet as the world’s sole public companies worth over $2 trillion.
    • Amazon reported its most profitable first quarter ever with net income of $10.4 billion
    • Jeff Bezos became the second-richest person in the world due to Amazon’s growing profits and stock rally
  • Accuracy
    No Contradictions at Time Of Publication
  • Deception (100%)
    None Found At Time Of Publication
  • Fallacies (100%)
    None Found At Time Of Publication
  • Bias (100%)
    None Found At Time Of Publication
  • Site Conflicts Of Interest (100%)
    None Found At Time Of Publication
  • Author Conflicts Of Interest (100%)
    None Found At Time Of Publication

99%

The overall score is a weighted number that takes into account conflict of interest, bias, deception and other practices that undermine the credibility of the source. It is calculated as:
(Site Conflicts Of Interest + Author Conflicts Of Interest) / 2.0 * 0.2 + ArticleBiasScore * 0.20 + UniquePointsScore * 0.05 + DeceptionScore * 0.20 + ReadabilityScore * 0.05 + FallacyScore * 0.20

A score that takes into consideration the content for flow, interruptions with ads, and overt search engine optimization techniques that makes the content hard to understand

Amazon hits $2 trillion in valuation on AI fervor, rate cut bets

Yahoo Finance Unknown Reuters Thursday, 27 June 2024 08:43
  • Unique Points
    • Amazon hit $2 trillion in market value for the first time on Wednesday, becoming the fifth US company to surpass that level
    • Amazon stock rose 3.9% to $193.61, giving the e-commerce giant a market value of over $2 trillion
    • Five US companies with market values over $2 trillion are Amazon, Microsoft, Apple, Nvidia and Alphabet
    • Amazon has invested in AI startup Anthropic and robotics firm Figure as it looks to capitalize on the AI boom
    • Late last year, Amazon unveiled a new generation of custom-designed chips used in data centers for machine-learning training and generative artificial intelligence
  • Accuracy
    No Contradictions at Time Of Publication
  • Deception (100%)
    None Found At Time Of Publication
  • Fallacies (95%)
    The article contains several statements that are not fallacious but rather factual. The author is reporting on Amazon hitting a new market value and the reasons behind it. However, there is one instance of an appeal to authority when the author mentions 'Wall Street was trading near record levels, largely powered by megacap stocks such as Nvidia and Amazon.' This statement implies that Wall Street's trading behavior is an authoritative source for the article's claims about Amazon and Nvidia. However, this does not detract significantly from the overall quality of the article.
    • Wall Street was trading near record levels, largely powered by megacap stocks such as Nvidia and Amazon.
  • Bias (100%)
    None Found At Time Of Publication
  • Site Conflicts Of Interest (100%)
    None Found At Time Of Publication
  • Author Conflicts Of Interest (100%)
    None Found At Time Of Publication

95%

The overall score is a weighted number that takes into account conflict of interest, bias, deception and other practices that undermine the credibility of the source. It is calculated as:
(Site Conflicts Of Interest + Author Conflicts Of Interest) / 2.0 * 0.2 + ArticleBiasScore * 0.20 + UniquePointsScore * 0.05 + DeceptionScore * 0.20 + ReadabilityScore * 0.05 + FallacyScore * 0.20

A score that takes into consideration the content for flow, interruptions with ads, and overt search engine optimization techniques that makes the content hard to understand

Bloomberg - Are you a robot?

Bloomberg News Now Thursday, 27 June 2024 08:43
  • Unique Points
    • Amazon's market capitalization reached $2 trillion for the first time ever
    • Amazon joined Microsoft, Apple, Nvidia and Alphabet as the world’s sole public companies worth over $2 trillion.
    • Amazon reported its most profitable first quarter ever with net income of $10.4 billion
  • Accuracy
    No Contradictions at Time Of Publication
  • Deception (100%)
    None Found At Time Of Publication
  • Fallacies (100%)
    None Found At Time Of Publication
  • Bias (100%)
    None Found At Time Of Publication
  • Site Conflicts Of Interest (100%)
    None Found At Time Of Publication
  • Author Conflicts Of Interest (0%)
    None Found At Time Of Publication