Amazon joins elite club as fifth company to hit $3 trillion market cap

Amazon.com Inc. has become the fifth company in history to surpass a $3 trillion market valuation, achieving the milestone on August 3, 2026. The e-commerce and cloud giant’s shares surged as much as 5.3% by 9:35 a.m. ET, extending a rally that began after its second-quarter earnings revealed the fastest revenue growth for its Amazon Web Services (AWS) unit since 2021. The cloud-computing revenue acceleration triggered a more than 15% single-day stock jump—the largest in over 14 years—adding nearly $400 billion to Amazon’s market value. This surge propelled Amazon to the top-performing stock among the so-called Magnificent Seven this year, outpacing its big-tech peers despite a broader gauge of those stocks gaining just 2.1% versus the S&P 500’s 10% rise. The milestone marks Amazon’s return to form after a three-month selloff driven by investor skepticism over AI spending commitments. Shares had plummeted nearly 18% from a May 6 record to a three-month low before the earnings-driven rebound. At roughly 25 times forward earnings for the next 12 months, Amazon’s valuation remains about 44% below its decade-long average, suggesting continued room for growth. It took Amazon just over two years to climb from $2 trillion to $3 trillion in market cap, faster than the six-plus years it took to reach $1 trillion in late 2018. Wall Street analysts remain bullish, with the average price target implying a 14% upside over the next year. Amazon’s logistics dominance is underscored by its top ranking on Transport Topics’ lists of the largest North American logistics companies, private carriers, and global freight firms.