Amazon becomes only the fifth U.S. company to secure $2 trillion market cap

By Emily Bary

Amazon had a slower rise from $1 trillion to $2 trillion than its technology peers did

After all the recent attention on Nvidia Corp.'s market-capitalization milestones, now it's Amazon.com Inc.'s time to shine.

The e-commerce company crossed the $2 trillion market-capitalization threshold Wednesday, becoming only the fifth U.S. company to close at or above that level.

Amazon's stock (AMZN) was up 3.9% in Wednesday action to close at $193.61. Its ending market value was $2.015 trillion.

Shares of Amazon are up 27% so far this year and ahead 52% in the past 12 months.

Only Apple Inc. (AAPL), Microsoft Corp. (MSFT), Nvidia (NVDA) and Alphabet Inc. (GOOG) (GOOGL) can also call themselves members of the $2 trillion club, and all four remain in it today, with all but Alphabet now also above the $3 trillion level.

See also: Nvidia's stock is set to gain as rivals play perpetual catch-up, analyst says

Amazon took a somewhat slower route relative to its peers in getting to $2 trillion territory from its last big market-cap milestone of $1 trillion, according to Dow Jones Market Data. Wednesday marked the 1,105th trading day since Amazon hit the $1 trillion valuation. Of the others, Alphabet took the longest, at 947 trading days, while Nvidia was quickest, needing only 180 sessions.

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-Emily Bary

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06-26-24 1636ET

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