Amazon CEO Jeff Bezos, already the world’s richest man, has even more to celebrate. Amazon shares topped the $3,000 mark for the first time ever Monday as tech stocks continued to soar.
Shares climbed more than 5% Monday to hit a record $3,057.04, up $166.74.
Amazon is now worth more than $1.5 trillion, joining Apple and Microsoft above that lofty level. This has helped push the Nasdaq to an all-time high above 10,000. Google owner Alphabet topped the $1 trillion mark Monday, too.
These four tech giants, along with Facebook, are now collectively worth more than $6.4 trillion.
Tech stocks have led the market’s stunning rebound from its March lows on expectations of strong sales and earnings growth — despite the fact that the US economy is now in a pandemic-induced recession.
Shares of Netflix, Tesla, Square, PayPal, Nvidia and Adobe all hit record highs Monday.
So did Zoom Video, Peloton, Lowe’s, Clorox and Teladoc — companies that have benefited greatly from the shift to a work-from-home and shelter-in-place reality.
