Amazon's (AMZN) market capitalization surpassed $3 trillion for the first time on Aug. 3 as shareholders continued to cheer the ******* an's blowout Q2 print, featuring an AI-driven 37% year-on-year increase in cloud revenue.
The post-earnings surge has pushed AMZN's relative strength index (RSI) into the early 70s, which signals overbought conditions that often trigger a near-term selloff.
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