Amazon Crossed $3 Trillion for the First Time Monday. Another 31% Puts It in the $4 Trillion Club.

Amazon closed Monday at $284.02, up more than 4%, putting its market value above $3 trillion for the first time.

Reaching $4 trillion would take about a 31% gain from here, or a stock price around $371.

Second-quarter operating income rose 43% year over year to $27.5 billion, led by Amazon Web Services.

Amazon (NASDAQ: AMZN) closed at $284.02 on Monday, up more than 4% for the day and at a record high. That price values the e-commerce and cloud computing giant just above $3 trillion -- a level it had never reached before. Getting from here to a $4 trillion valuation takes about a 31% gain -- a stock price around $371.

Amazon wouldn't be the first to arrive. Nvidia is already worth about $5 trillion, and Alphabet sits at about $4.6 trillion.

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The rest of the climb would likely be driven by the same catalyst that propelled it to $3 trillion: profit growth. And I think the current pace covers the distance with room to spare.

Monday's record came after last week's second-quarter report gave investors plenty to like. Net sales rose 20% year over year to $200.6 billion. Operating income climbed 43% to $27.5 billion, up from $19.2 billion a year earlier.