Amazon Crossed $3 Trillion for the First Time Monday. Another 31% Puts It in the $4 Trillion Club.
Reaching the next milestone takes about a 31% climb. The current pace of profit growth would more than cover it.
Overview
Amazon (NASDAQ: AMZN) closed at $284.02 on Monday, up more than 4% for the day and at a record high. That price values the e-commerce and cloud computing giant just above $3 trillion -- a level it had never reached before. Getting from here to a $4 trillion valuation takes about a 31% gain -- a stock price around $371.
Amazon wouldn't be the first to arrive. Nvidia is already worth about $5 trillion, and Alphabet sits at about $4.6 trillion.
Details
The rest of the climb would likely be driven by the same catalyst that propelled it to $3 trillion: profit growth. And I think the current pace covers the distance with room to spare.
Source
Originally published at www.fool.com.