Amazon Joins Apple in $1 Trillion Club

05 September, 2018, 12:09 | Author: Shannon Aguilar
  • Lindsey Wasson  Reuters

Note that Morgan Stanley's theoretical breakdown assumes a stock price of $2,500 - higher than Amazon's current price, and thus a market value of slightly higher at $1.32 trillion.

And while Amazon and Apple are now alongside one another in the $1 trillion category, look for Google parent company Alphabet and Microsoft to reach the monumental mark in the near future.

In just two decades, the company expanded far beyond its bookseller beginnings - they've managed to combine a world-wide retail operation with a less showy, but clearly, incredibly profitable advertising and cloud software businesses. Apple's stock price fluctuated in sync with Amazon's today, with a peak around 11:30 this morning and a trough about an hour later.

Founded in 1994, Amazon is now the world's largest online retailer.

Amazon.com founder and CEO Jeff Bezos on June 18, 2014 in Seattle, Washington.

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Apple took nearly 38 years as a public company to achieve the trillion dollar milestone, while Amazon got there in 21 years.

Indeed, it was less than a year ago in early October 2017 that Amazon shares first crossed the $1,000 mark.

Amazon has become the second publicly traded company to be worth US$1 trillion (NZ$1.52 trillion), hot on the heels of Apple.

For fiscal 2017, Amazon and its 560,000 employees around the world reported total sales of $177.87 billion, netting it an adjusted profit of $6.15 per share, according to the company's annual report. At $2,050.27 its shares are up around 136,584% since its IPO.

"The company continues to experiment with new products and push into new geographies".

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