Amazon shares on Wednesday were up about 4% to nearly $194 as of 2 p.m. ET, pushing the Seattle-based retail giant's market cap above $2 trillion for the first time.
A Bank of America note to investors published on Tuesday, which reiterated a buy rating on Amazon's shares, projects the retailer to deliver more than 9 billion packages globally in 2024. Amazon "could now be the largest U.S. shipper, ahead of UPS," analysts wrote. "Delivery speed is also dramatically improved, with nearly 25% of estimated units now delivered same or next day."
