Amazon Stock Hits New High, Closing 2.94% Higher on Sixth Straight Gain Following November NFP

Amazon's stock has reached a new all-time high, closing 2.94% higher as of December 6, 2024, marking its sixth consecutive gain. Analysts indicate that Amazon has made significant strides in the artificial intelligence sector, catching up to its rival Microsoft, which had previously outpaced it in this area. The positive momentum for Amazon shares is attributed to the market's favorable response to its new AI chip, contributing to an overall rise in its stock price in eight of the last nine trading sessions. This surge follows the release of November's Non-Farm Payroll (NFP) data, which exceeded expectations, further bolstering investor confidence.