Amazon reached a $2 trillion market capitalization in June 2024, becoming the fifth U.S. company to do so.
Amazon crossed the threshold on June 26, 2024, as its share price rose during a broader rally in major technology companies. The company joined Apple, Microsoft, Alphabet, and Nvidia among U.S. companies that had reached a $2 trillion valuation.
Amazon began as an online bookstore in 1994 and expanded into a broad digital-commerce and technology group. Amazon Web Services became a particularly important contributor because it provides cloud-computing infrastructure, databases, storage, and related services to organizations worldwide.
A market capitalization is not the same as annual sales, profit, or the value of all company assets. It is the market’s current valuation of the company’s publicly traded equity. Amazon’s retail operations, advertising business, and cloud division all influence investor expectations.