Amazon joined $2 trillion dollar club!

• Amazon market cap has reached over $2 trillion
   
• Stock is estimated to grow 13.7% in 12 months
   
• AMZN has outperformed both Nasdaq and S&P500 
   
• Expected YoY growth in Q2 2024: Revenue - 12.69%, EPS - 60.44%)

Amazon shares rose 3.9% on Wednesday, June 27, pushing the company's market capitalization above $2 trillion for the first time.
 

Other $2+ Trillion Market Cap. Club members:

• Microsoft - $3.36 trillion
• Apple - $3.27 trillion
• Nvidia - $3.11 trillion
• Alphabet C - $2.29 trillion
• Alphabet - $2.27 trillion

Year-to-date, the company has outperformed both the S&P500 and the Nasdaq 100 by 13.63% and 9.74%, respectively.
 

The company's cloud services unit has been at the heart of its recent success. In its most recent earnings report, AWS posted the strongest revenue growth.

Contributing to higher margins, the company has also implemented a number of cost-cutting initiatives, including the layoff of more than 27,000 employees.

Looking ahead to the next earnings season, analysts expect Amazon to report (for Q2) revenues of $151.44 billion (12.69% YoY growth) and EPS of $1.04 (60.44% YoY growth).

According to the Bloomberg Consensus, the stock is estimated to grow at 13.7% over the next 12 months.

Amazon also announced that its 10th annual Prime Day will take place between July 16 and 17. Last year, the company posted a record $12.7 billion in online sales (375 million items were sold).