Tuesday, 25 September, 2018

Amazon temporarily became a $1 trillion company

Is Amazon a monopoly Is Amazon a monopoly
Kenneth Drake | 05 September, 2018, 12:06

Shares in the e-commerce giant rose almost 2 percent to a high of $US2,050.50 in morning trade before slipping back.

This growth was made clear when Apple managed to become the first US-based trillion-dollar company earlier this year.

It crossed the line at 16:40 BST before falling back slightly.

In two decades the company expanded far beyond its bookseller beginnings, combining its world-spanning retail operation with less flashy but profitable advertising and cloud computing businesses.

Still plenty of catalysts could affect the horse race ー investors will be closely watching Apple's big iPhone reveal next Wednesday, and the all-important holiday shopping season will be key for Amazon.

Amazon's success pushed Jeff Bezos, founder and CEO, to the top of Forbes' billionaires list this year.


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.

The e-commerce juggernaut hit the 13-digit milestone Tuesday morning when its stock briefly surged to $2,050.50, passing the $2,050.27 mark to win a $1 trillion market capitalization.

By October 2009 it had risen to $100 and the stock hit $1,000 for the first time on May 30, 2017.

Shares in the world's largest online retailer last traded up 1.4% at $2,041.68. The company has more than 487.7 million outstanding shares, according to its most recent financial filing.

He added: "We continue to aspire to be Earth's most customer-centric company, and we recognize this to be no small or easy challenge".

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