$3 Trillion Club: Amazon Surpasses Milestone Amid Record-High Earnings

Amazon has reached a new milestone by becoming the fifth company to join the $3 trillion club, surpassing the likes of Apple, Microsoft, Nvidia, and Alphabet. The e-commerce giant's stock hit an all-time high of $287.17 in trading on Monday, pushing its valuation above the $3 trillion mark.

This achievement comes shortly after Amazon's second-quarter earnings report, which revealed strong top- and bottom-line beats. The company also increased its capital spending budget to a record-breaking $220 billion this year, with the majority allocated for artificial intelligence infrastructure.

Roth Capital notes that Amazon is demonstrating the highest AI return on invested capital compared to its peers, making it an attractive investment opportunity. Retail investors remain extremely bullish on Amazon's stock, with 62 out of 65 analysts covering the company rating it a 'Buy' or higher.