Amazon's Stock Value Has Crossed $1 Trillion, Joining Apple

Andrew Cummings
September 4, 2018

Amazon is the second U.S. company to reach a $1 trillion valuation, after Apple hit the milestone earlier this month.

That puts the company's market capitalization-the number of its outstanding shares multiplied by share price-at $1 trillion.

Amazon is the second corporation to exceed $1 trillion in value after Apple, which crossed the threshold on August 2.

It began the day needing just over $18bn worth of net value to reach $1trn - a month after Apple won the race to be the first company with such a market capitalisation. While Apple's iPhone and other devices remain popular and its revenues are growing, it is not keeping up with Amazon's blistering sales growth.

Amazon also provides video streaming services and bought upscale supermarket Whole Foods.

In the second quarter the unit accounted for 55 percent of Amazon's operating income and 20 percent of total revenue, according to Morgan. By early afternoon, Amazon's stock was trading at $2,030 per share, up less than 1 percent, putting its market cap at $990 billion. The company makes 49 cents of every e-commerce dollar spent in the USA, employs more than 550,000 people and reels in $178 billion in annual revenue, according to the New York Times.

Starting as a new way to sell books in the early years of the internet, Amazon has grown to an online behemoth and has changed the retail landscape across the world. It has held above that level since October 27, 2017.

Amazon's shares are up 75 percent from the beginning of the year.

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

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