Amazon becomes 2nd USA company to reach United States dollars 1 trillion value

Amazon becomes 2nd USA company to reach United States dollars 1 trillion value

Apple took nearly 38 years as a public company to achieve the trillion dollar milestone, while Amazon got there in 21 years. If the online retailer's share price continues at its recent pace, it will be a matter of when, not if, Amazon's market valuation eclipses that of iPhone maker Apple, which reached $1 trillion on August 2.

Inc on Tuesday joined Apple Inc in the $1 trillion club, becoming the second member of the group after its stock price doubled in 15 months. For example, you can expect to see Amazon commercials during NFL Thursday Night Football this season, as well as ads on video game streaming service Twitch, which the company acquired in 2014.

On August 2, Apple became the first USA company to reach a total market capitalization of $1 trillion. And its cloud computing services for companies have become its main profit driver. But that strategy has paid off in spades, with the company coming to dominate entire industries and quickly gaining on Apple as the most valuable publicly traded company in the world.




The company's blowout success has made its founder and CEO, Jeff Bezos, No. 1 on Forbes' billionaires list this year. Amazon shares first hit $1,000 on October 27, 2017.

The milestone is another sign of Amazon's swift rise from an online bookseller to a behemoth that sells toilet paper, TVs and just about anything. The company's stock has surged more than 70 percent since January, outperforming Apple, which has gained more than 30 percent. Multiplied by the current number of shares outstanding - 487,741,189 - that puts the company's book value just over the same symbolic milestone that Apple hit less than one month ago.

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