Amazon's stock hit $300 for the first time Thursday afternoon, following a Wednesday ruling that found Apple guilty of conspiring with publishers to break up Amazon's price monopoly on the e-book industry. Amazon's market cap is currently around $137 billion.
Amazon's stock price has been steadily climbing since hitting a six-month low of $248 in early May. The company released a stronger than expected first quarter earnings report in April, growing sales 22% year-over-year to $16.07 billion. At the time, the report did little to impact the company's stock price, in part because Amazon said it expected to have a weaker second quarter. Amazon will report second quarter earnings later this month.
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