Amazon passes 3,000 billion on the stock market for the first time

Amazon has passed 3,000 billion dollars in market capitalisation for the first time. The figure is reported by Bloomberg.

The share rose 4.6% on Wall Street after the publication of second-quarter results. The accounts showed accelerating revenue in the cloud division, the computing services business the group runs alongside e-commerce.

With this step Amazon becomes the fifth company ever to reach that threshold. The others are Nvidia, Alphabet, Microsoft and Apple.

The tariff refund

Alongside the market result sits a matter of a different kind. Amazon has received around 600 million dollars in refunds linked to customs duties that the United States Supreme Court invalidated in February.

The group said the sum would be returned to customers who had paid higher prices because of those charges.

The refund concerns a cost that had been passed along the chain, from the duty to the final price. The repayment follows the same route in reverse, but the practical arrangements and the timing for individual buyers to receive the amount have not been specified.

The concentration of value in a small number of companies remains the most visible feature of this phase in the markets. Five groups have crossed a threshold that nobody had reached until a few years ago, and all of them operate in technology and digital services.

For investors the question concerns the weight these companies carry in the indices. Anyone holding a fund that tracks the United States market is increasingly exposed to the performance of a handful of firms, without having chosen them individually.