Amazon's market value hit US$1 trillion on Tuesday (Sep 4), the second company after Apple to hit the milestone, following an incredible journey for the internet giant which has kept a long-term focus since launching as an online bookseller two decades ago. Apple's valuation has risen to $1.1 trillion since it first passed the threshold.
Amazon's stock rose 1.7 percent in morning trading, putting its market value at just over $1 trillion, although the stock dropped back slightly after that.
It's official: Amazon is the second American company to achieve a valuation of more than $1 trillion.
"It says a lot about Amazon and its ever-increasing dominance of segments of the retailing world as well as the web services business", said Peter Tuz, President Of Chase Investment Counsel In Charlottesville, Virginia. 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 is the second U.S. company to hit that mark, driven by its continued dominance in the retail world and its highly profitable cloud services business.
Amazon becomes second company to hit $1 trillion value
Amazon's $1 trillion has been coming for weeks. It has held above that level since October 27, 2017.
"Amazon is really only just getting started".
Amazon shares, up 1.1 per cent at $2,035.68 last night, have soared by 75 per cent this year.
Amazon now trades up 74.0 per cent for the year to date.
"This year marks the 20th anniversary of our first shareholder letter, and our core values and approach remain unchanged", Bezos said in his 2017 letter to shareholders in March of this year.
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