The stock rose 3.1% to $192.1, giving the e-commerce giant a market value of $2 trillion and putting it in the same club as tech heavyweights Microsoft Corp, Apple, Nvidia and Alphabet. .
Last June 18 Nvidia became the most valuable company in the world dethroning the heavyweight Microsoft.
In April, Amazon reported that its net sales increased 13% to $143.3 billion in the first quarter of the year. In North America alone they increased 12% to $86.3 billion.
Additionally, international segment sales increased 10% year-over-year to $31.9 billion, and the company’s crown jewel, cloud service AWS, grew 17% year-over-year to $25 billion.
Although not everything has gone smoothly for Amazon. One of the latest scandals in which the company was involved was that it was awarded a fine of 5.9 million dollars by the California State Labor Commissioner’s Office.
The reason behind the sanction is that the technology company established productivity quotas among its employees, something that violates state laws.
The agency only investigated a couple of Amazon facilities in East Los Angeles and it was enough to find 59,017 violations of the warehouse quota law, a dynamic that has become one of the main sources of stress for workers.
With information from Reuters
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