Published: Wed, September 05, 2018
Money | By Hannah Jacobs

Amazon is 2nd US company to reach $1-trillion market value

Amazon is 2nd US company to reach $1-trillion market value

For context, the entire U.S. stock market - the sum of all publicly traded American companies including Amazon -hit $30 trillion back in January.

By October 2009 it had risen to $100 and the stock hit $1,000 for the first time on May 30, 2017. Amazon saw its quarterly profit soar past $2 billion USA for the first time earlier this year as the online shopping, cloud computing and advertising businesses all kept growing.

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.

One trillion is a hard number to imagine, regardless of what's being counted, and even less so when it's the value of a 24-year-old company with a plethora of business units in addition to its core retail focus.

Apple reached the same milestone in early August.

But of that massive revenue, retail is slowly beginning to take a backseat to other, higher-margin services. Amazon Web Services provides cloud computing services to companies and government, and Amazon's advertising division makes billions by selling ads to companies that want their products to show up when shoppers search on the site.

Apple Inc. may have gotten there first, but's rapid ascent to a $1 trillion market value should put the iPhone maker on notice that its days as the world's most valuable company are numbered.

Amazon's financial and business successes even pushed the founder and CEO, Jeff Bezos, right to the top of Forbes' billionaires list this year. Bezos brought home an annual salary of $81,840 (R1,25 million) in 2017, according to regulatory filings.

Amazon shareholders have already had a extraordinarily good year.

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