Amazon follows Apple to cross trillion-dollar milestone

Andrew Cummings
September 5, 2018

Inc. shares rose as much as 1.9%, pushing the company briefly beyond a market value of $1 trillion, a milestone Apple Inc. reached last month.

Apple crossed the trillion-dollar value threshold a month ago and has remained above it. Amazon became the second U.S. company at that eye-popping value.

Just 10 months later, on August 30, Amazon shares hit $2,000 for the first time, just $50 per share away from giving the company a $1 trillion market value. 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.

Amazon follows Apple, which reached the mark earlier this year. And its cloud computing services for companies have become a major driver of earnings and revenue.

Analysts said the success of the company's cloud business, Amazon Web Services, and rapidly-growing advertising arm have helped reassure investors who have long anxious about Amazon's profitability.

Amazon and Apple are now worth more than the economies of countries such as Turkey and Switzerland.

Bezos' riches have largely come through his ownership of 16.3% of Amazon's outstanding stock.

Founded in 1994, Amazon is now the world's largest online retailer. Amazon shares first hit $1,000 on October 27, 2017.

"Amazon is really only just getting started".

By the end of that year, Amazon was selling books online throughout the US.

Buying the Whole Foods grocery chain past year got Amazon established real world outlets while putting its delivery and retail smarts and systems to work in the brick-and-mortar world. In comparison, Apple has risen about 35.0percent in 2018.

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