Amazon Ties with Magnificent 7 at $3 Trillion Market Cap

Amazon has become the fifth company to reach a market capitalization of $3 trillion, joining its peers in the exclusive club. The milestone comes after two years since the company reached the $2 trillion mark in June 2024.

The achievement follows Amazon's strong second-quarter earnings, where it reported top- and bottom-line beats. Additionally, the company increased its capital spending budget to $220 billion this year, the highest for a Wall Street company.

Roth Capital noted that Amazon is demonstrating the highest AI return on invested capital compared to its peers. The firm expects Amazon to earn faster returns on investment as its spending shifts towards cheaper servers.