Shares of Amazon.com Inc. are actively rising on Monday, with the company's market capitalization exceeding the $3 trillion mark for the first time.
Amazon became the fifth company to reach this milestone. Previously, Nvidia Corp., Alphabet Inc., Microsoft Corp., and Apple Inc. had achieved this.
Amazon's stock price is up 4.7% on Monday. Since the start of the year, its market value has increased by 23.2%, the best performance among the so-called "Magnificent Seven" companies.
Last week, the company released its second-quarter earnings. During the period, net profit more than tripled to $62.6 billion, while revenue increased by 20% to $200.6 billion. Revenue from Amazon Web Services (AWS) grew by 37% to $42.2 billion.
Following the earnings release, Amazon's market capitalization increased by approximately $400 billion. The average analyst forecast compiled by Bloomberg implies a potential rise of about 14% from current levels over the next year.