Amazon hits $2 trillion in valuation on AI fervor, rate cut bets
How has Amazon's inclusion in the Dow Jones Industrial Average affected its stock price?
Amazon's inclusion in the Dow Jones Industrial Average in February has contributed to its stock price increase of over 26% this year. The company's addition to the blue-chip index has increased its exposure to retail investors and boosted its weighting in the index. The optimism around artificial intelligence and potential interest rate cuts have also driven demand for technology-related stocks, further supporting Amazon's stock price growth.
How much did Amazon's stock price increase on Wednesday?
Amazon's stock price increased by 3.4% on Wednesday, hitting $192.70 and resulting in the company reaching a market value of over $2 trillion. This growth was driven by optimism around artificial intelligence and potential interest rate cuts this year, which have bolstered demand for technology-related stocks.
Which other U.S. companies have surpassed a $2 trillion valuation?
Apart from Amazon, the other U.S. companies that have surpassed a $2 trillion valuation are Microsoft, Apple, Nvidia, and Alphabet.