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.
Amazon (AMZN) is now worth more than $1.5 trillion, joining Apple (AAPL) and Microsoft (MSFT) above that lofty level. This has helped push the Nasdaq to an all-time high above 10,000. Google owner Alphabet (GOOGL) topped the $1 trillion mark Monday, too.
These four tech giants, along with Facebook (FB), 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 (NFLX), Tesla (TSLA), Square (SQ), PayPa (PYPL)l, Nvidia (NVDA) and Adobe (ADBE) all hit record highs Monday.
So did Zoom Video (ZM), Peloton (PTON), Lowe’s (LOW), Clorox (CLX) and Teladoc (TDOC) — companies that have benefited greatly from the shift to a work-from-home and shelter-in-place reality.