Amazon's Market Cap Surpasses $3 Trillion for the First Time, Up 5.45%

BlockBeats News, August 3rd, according to Bit (Bit.com) market data, Amazon's market cap exceeded $3 trillion for the first time, reaching $3.09 trillion, currently up 5.45%.

Just in the past week, the stock has risen by about 17%. Institutional data shows that based on fair value analysis, Amazon's current stock price is still slightly undervalued. The historical high stock price reflects investors' confidence in Amazon's continued growth capabilities and market dominance. The company is continuously expanding its business footprint in e-commerce, cloud computing, digital streaming, and other areas.

Recently, Amazon Web Services (AWS) has made significant progress, with AWS revenue growing by 37% this quarter. Excluding one-time items, the company's revenue and operating profit exceeded market expectations by 2% and 11%, respectively. The market has since reacted positively to this performance, with several institutions such as Benchmark, UBS, and TD Cowen raising their target prices.