Amazon tops $3 trillion in market value for the first time
The fifth company ever to reach the mark got there on cloud demand rather than retail.
Amazon's market capitalization passed $3 trillion for the first time on Monday, with the shares rising about 5 percent to a record high and up more than 23 percent for the year. The move followed second quarter results in which Amazon Web Services revenue grew 37 percent to $42.2 billion and AWS segment operating income reached $16.6 billion. Total net sales for the quarter ended June 30 were $200.6 billion, a 20 percent increase. Amazon becomes the fifth company to reach $3 trillion, joining Apple, Microsoft, Alphabet and Nvidia.
Scripture for Reflection
“Instruct those who are rich in the present age not to be conceited and not to put their hope in the uncertainty of wealth, but in God, who richly provides all things for us to enjoy.”
We can hold our own hopes loosely, resting them in God rather than in numbers that rise and fall.
