Tech giant, Amazon has witnessed its shares rise past the $3,000 mark for the first time 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.
Following a crash in the value of stocks because of the lockdown in March, tech stocks have led the market’s rebound from its lows – despite the fact that the US economy is now in a pandemic-induced recession.
Shares of Netflix (NFLX), Tesla (TSLA), Square (SQ), PayPal (PYPL), 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.
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