Amazon Gears Up For Prime Day 2024 With $2T Market Cap - Amazon.com (NASDAQ:AMZN)

　　Also Read: Amazon Expands AI Shopping Assistant Rufus to All US Customers As Prime Day Approaches

　　The hype around artificial intelligence has played a crucial role in boosting Amazons stock akin to other Big Tech giants led by Nvidia CorpNVDA.

　　Investors bet Amazon will maintain its current strategy without reverting to heavy investment phases.

　　Over the past four quarters, Amazons operating income surged by triple-digit percentages and will likely exceed $62 billion this year. This would bring the annual operating margin to nearly 10%, significantly higher than the 5% average over the past five years, WSJ reports.

　　According to Emarketer, this years Prime Day has the potential to generate around $13.3 billion in global sales, up 6% from last year.

　　Amazons advertising business, currently valued at $49 billion, is set to receive a further boost from introducing ads to Prime Video. Jefferies estimates this could generate about $2.9 billion in new ad revenue for Amazon this year.

　　Price Action: AMZN was down 0.16% to $194.17 premarket at the last check on Monday.