Amazon stock soars nearly 50% as revenue growth drives market cap past $2.4 trillion

Amazon's stock has risen nearly 50% over the past year, reaching a market cap of over $2.4 trillion. The company's growth is driven by its e-commerce and cloud services, particularly Amazon Web Services, which reported a 20% revenue increase in 2024. In the first nine months of 2024, Amazon generated over $450 billion in revenue, with $171 billion from online stores, growing just 6%. However, its third-party seller services, advertising, and subscriptions saw double-digit growth, supporting overall profitability. Analysts project Amazon will grow revenue by 11% in both 2024 and 2025. Despite slower growth in its online stores, the company remains well-positioned in the expanding e-commerce and cloud markets, indicating continued potential for profit increases.