Amazon's stock has reached a new all-time high, hitting $193.04, and has officially joined the elite $2 trillion valuation club. This milestone comes as Bank of America upgraded Amazon's price target from $210 to $220, citing expected retail margin expansion and significant efficiency improvements in 2023. Despite these improvements, Bank of America notes that Amazon's logistics metrics still lag behind 2018 levels, suggesting more room for gains. Amazon's stock rally has been driven by optimism around AI, which has re-accelerated its cloud-computing business. The company is now among the few U.S. firms to achieve a $2 trillion market cap, joining the ranks of Alphabet and other tech titans. Amazon's stock is up 27% this year, driven by improving growth trends.