Amazon reached an all time high Thursday. Amazon stock gained just under 1% to close at 189.50 on the stock market today, its first record close since early April.
Shares for the Seattle-based tech behemoth have steadily climbed since the company posted strong first-quarter earnings on April 30. Shares have gained six out of the last seven trading days, according to Dow Jones Market Data.
For its first quarter, Amazon reported a 216% year-over-year earnings increase, to 98 cents per share, and sales up 13% at $143.3 billion. Both metrics easily beat average estimates from analysts. The company's Amazon Web Services business also reported better-than-expected revenue growth.
Amazon stock last had a record close on April 11, when shares ended trading at 189.05. At the time, the milestone marked a full recovery from the company's slump in 2022. But shares pushed lower in the weeks after as part of a broader tech pullback. Amazon fell to as low at 166.32 on April 25.
The gains since Amazon's earnings report give the company a market capitalization just below $2 trillion. That's a threshold crossed only by Microsoft, Apple, Nvidia and Alphabet.
Amazon Stock: Technical Ratings
Overall, Amazon stock has gained 25% this year and 80% over the past 12 months.
Amazon stock has an IBD Composite Rating of 94 out of a best-possible 99, according to IBD Stock Checkup. The score combines five separate proprietary ratings into one rating. The best growth stocks have a Composite Rating of 90 or better.
Amazon's Relative Strength Rating is 90 out of a best-possible 99.
