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Amazon passes $1 trillion in value amid attacks from Trump

05 September, 2018, 00:00 | Author: Kristi Dunn
  • Amazon is now a $1 trillion company

According to a report in CBS News, Amazon shares hit $2,050.49 - climbing 1.5 per cent in the morning trade - bringing the company's market value above $1 trillion.

Amazon has become the second publicly traded company to be worth $1 trillion United States, hot on the heels of iPhone maker Apple.

Inc on September 4 joined Apple Inc in the $1 trillion club, becoming the second member of the group after its stock price doubled in 15 months. Amazon's stock is up almost 70 percent this year as USA tech stocks continue to reach record highs.

As of writing, Amazon's market cap is sitting pretty at $994.75 billion; it's nearly a certainty that the company's valuation will top $1 trillion again relatively soon.

Amazon has impressed investors by successfully diversifying its business into virtually every corner of the retail industry, altering how consumers buy products and putting major pressure on many brick-and-mortar stores.

Amazon is the second United States company to hit that mark, driven by its continued dominance in the retail world and its highly profitable cloud services business.

Samsung CEO: Note9's battery is safe, phone will outsell its predecessor
Samsung is also getting more aggressive with battery capacity now that the Note7 recall debacle is well behind it. The Galaxy Note9 is available with two internal storage options - choose from 128GB or 512GB.

"Amazon's a little bit more dynamic than Apple because the iPhone has become more mature".

Amazon's shares debuted at $18 on May 15, 1997.

Amazon's success pushed Jeff Bezos, founder and CEO, to the top of Forbes' billionaires list this year. The Amazon landmark comes about a month after Apple hit the $1 trillion level in early August.

Amazon's stock is up 74.5 percent year to date.

Shares of the e-commerce giant gained about 2% in trading on Tuesday to hit an all-time high of $2,050.27.

Amazon now trades up 74.0 percent for the year to date.

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