Amazon Stock Extends Rally After Massive Earnings Surge

Amazon's stock price continues to soar after its recent earnings report, with shares rising 1.80% in Monday's premarket trading.

The surge follows a massive rally on Friday, where the stock jumped over 15%, putting founder Jeff Bezos on track for another multibillion-dollar increase in his net worth.

The strong growth is attributed to Amazon Web Services (AWS), which saw its revenue accelerate by 36.7% year-over-year, marking the fastest pace in 18 quarters.

CEO Andy Jassy highlighted AWS's triple-digit growth rates, stating that customers choose it for its 'broadest capabilities' and strongest security and operational performance.'