Amazon (AMZN) surpassed $2 trillion in market capitalization on Wednesday. The company now joins an elite club of tech companies that includes Apple (AAPL), Alphabet (GOOG, GOOGL), and Nvidia (NVDA).

Yahoo Finance anchor Madison Mills joins Morning Brief to break down this latest development for Amazon and what it means for the company moving forward

For more expert insight and the latest market action, click here to watch this full episode of Morning Brief.

This post was written by Nicholas Jacobino

Video Transcript

Amazon reaching a new market cap milestone, the tech giant becoming the fifth US company to surpass $2 trillion in market value.

On Wednesday, Yahoo Finance's Madison Mills has the rundown, the breakdown, the run up whatever you wanna call it call Amazon having a new record.

They do Brad, thanks so much.

So shares of Amazon have seen a steady uptake so far this year rising nearly 30% year to date and now sitting in the same camps as the big wigs, the Microsoft's Apples and video and of course alphabet here.

But as you know, it's been a battle for the most valuable company title and videos monster rally this year briefly sending its market cap above both Apple and Microsoft last week making it the most valuable public company in the world for a short period of time.

Now Microsoft and Apple have since taken back those top two spots as in video surge has taken a breather this week, you can see on this chart behind me just the stress that in video as a company has been under over the past five days, seen its worst three day slump since December of 2022 and losing over $430 billion in its market cap.

But the real battle, of course, here has been between Microsoft and Apple.

Both of those tech giants fighting overtake the other in market cap.

The current crow sitting with Microsoft, the Apple is close behind here.