Amazon's value hits US$2.8 trillion on a broker's note
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The story behind it
A Morgan Stanley note added about US$134 billion to Amazon in a day Read the edition →
The story behind it
A Morgan Stanley note added about US$134 billion to Amazon in a day Read the edition →What the chart shows
A single bank note moved Amazon's share price 4.98% on Monday, to US$262.45. Morgan Stanley made it its top pick, citing Amazon Web Services, advertising and Prime memberships.
Set that against the business underneath. Operating income dropped from US$24.9bn in 2021 to US$12.2bn in 2022, and the market value was US$856.9bn at the end of that year. Since then profit has reached US$80.0bn for 2025, and the value stood at US$2,830.9bn at Monday's close.
Monday did not change any of those profits. Amazon reports its September quarter next week in New York, Friday morning in Auckland and Sydney, and the cloud arm's growth is the number to watch.
The numbers
Two scales: operating income by calendar year, 2021 to 2025, on the left; market value at each year end and at Monday's close on the right, all in US$bn.
| Operating income, US$bn | Market value, US$bn | |
|---|---|---|
| 2021 | 24.9 | 1691.0 |
| 2022 | 12.2 | 856.9 |
| 2023 | 36.9 | 1570.2 |
| 2024 | 68.6 | 2306.9 |
| 2025 | 80.0 | 2467.5 |
How we make these charts: one chart a day from a story in the edition, drawn from the figures the story names and checked against the sources named on the chart before it is published. General information only, not financial advice.
