📈✨ Amazon.com has reached a milestone - surpassing a market value of $2 trillion! 🌟
Today ,Amazon $AMZNbecame the fifth US company to reach this milestone. The company's stock is up more than 4 %, putting them alongside tech giants like Microsoft, Apple, Nvidia and Alphabet.
US stock indices are posting strong gains this year thanks to continued enthusiasm around artificial intelligence, an upbeat outlook for the US economy and a potential Federal Reserve interest rate cut.
Amazon, which was included in the prestigious Dow Jones Industrial Average index in February, has seen its shares rise by more than 26 %. Its market value has made it the fifth largest US company.
Amazon Web Services remains the world's largest provider of cloud services. After last year's slump, the company's growth has bounced back, thanks to a surge in artificial intelligence technologies.
The company is also investing heavily in the future, including startup Anthropic and robotics firm Figure, to take advantage of the boom in artificial intelligence. Recently, the company introduced a new generation of data center chips aimed at machine learning training and generative AI.
In other interesting news, the company Amazon is reportedly developing a competitor for ChatGPT and is rapidly expanding its suite of tools for generative AI, including Bedrock and broad integration 3P models. With chipsets Trainium and Inferentia, Upgrades Alexa and new apps like Rufus a Q with Amazon is becoming a true leader in artificial intelligence. 🚀💡
Do you have stocks of this giant in your portfolio that is making all investors happy this year?
Well done, another stock that is making solid gains this year and I have it in my portfolio. It may not be like Nvidia, but satisfaction nonetheless :) Amazon has been quite a laggard in terms of growth compared to other techs.
I don't have stocks in my portfolio. Unfortunately, I did not take advantage of the lower prices.