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With a market cap now at $1.773 trillion, Amazon (NASDAQ:AMZN) has officially overtaken Alphabet (GOOG, GOOGL) in enterprise value for the first time since 2022.
The milestone for Amazon (AMZN) was fueled by a new record high in the stock on the heels of better-than-expected Q4 results and upbeat Q1 guidance. Shares in the e-commerce colossus were launched more than 9% higher after the close on Thursday, taking the tech sector higher in its wake.
And it wasn’t just investors who applauded the company’s results. Wall Street analysts weighed in with RBC Capital expecting AWS to unlock “tens of billions of free cash flow over the next few years.”
Amazon (AMZN) shares have gained 51% year-over-year while Alphabet (GOOG, GOOGL) shares up 41% in the same time frame.