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- Shares of Amazon hit a new all-time high to start the week, putting its market cap over the $3 trillion.
- The company posted strong Q2 earnings last week, highlighted by cloud growth.
watch nowVIDEO03:14Amazon soars on Q2 earningsSquawk Box
Shares of Amazon hit a new all-time high on Monday, putting its market cap over the $3 trillion threshold following a better-than-expected earnings report last week.
Monday’s new record is the best day for Amazon since May 5. Shares are up roughly 4%.
The jump comes after the company reported a surge in cloud growth during the second quarter on the back of strong artificial intelligence demand. It reported adjusted earnings per share of $1.97 versus estimates of $1.82 per share. Revenue came in at $200.61 billion, beating the $196.47 billion analysts estimated.
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