Amazon Stock Joins Big Tech in Hitting New Highs After Cost-Cutting Measures

Amazon stock hits record high, joining other big tech companies like Meta, Microsoft, and Nvidia in reaching new peaks
Share price rose 1.7% to close at $189.05, surpassing previous record of $186.57 from July 2021
Amazon was the last of the 5 biggest US tech companies to rebound to an all-time high after pandemic selloff
Company has pledged to cut costs and restructure to boost profits and confidence from investors
Upcoming Q1 earnings expected to show impact of cost cutting and focus on improved financials