Amazon's market capitalization surpassed $3 trillion for the first time on Monday, according to Insider Paper. The e-commerce and cloud computing giant joins Apple and Nvidia among the world's most valuable companies.
Amazon's market capitalization passed $3 trillion for the first time on Monday, according to a report from Insider Paper. The milestone makes Amazon one of the few companies to reach that valuation, alongside Apple and Nvidia. The surge in market value reflects continued investor confidence in Amazon's core e-commerce business and its cloud computing division, AWS, which has been a major profit driver.
The milestone comes in a year that has seen several tech giants reach record valuations. As The Zioneer reported, Apple overtook Nvidia to become the world's most valuable company in July, with a market cap of $4.9 trillion, while SpaceX's valuation neared $3 trillion in June following its Nasdaq debut. Amazon's latest valuation cements its position among the top-tier global technology firms.
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