Amazon Returns to Record Levels Amid Pandemic Sales Boost
- Shelter-in-place orders have fueled demand for e-commerce
- Amazon’s valuation returns above $1 trillion with advance
Amazon.com Inc. app is displayed on an Apple Inc. iPhone
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Amazon.com Inc. has been one of the standout performers of the current market environment, and the rally has returned the e-commerce company to all-time highs.
The advance in the stock comes in stark contrast to the overall U.S. equity market, which has struggled in the face of the coronavirus pandemic. While the S&P 500 is in negative territory for the year, Amazon has climbed nearly 20% over the same period, making it one of the 10 biggest percentage gainers among S&P components. The gains have also lifted Amazon back above the threshold of a $1 trillion market capitalization.