Amazon becomes second U.S. company to be worth US$1 trillion

Daniel Fowler
September 5, 2018

The Amazon landmark comes about a month after Apple hit the $1 trillion level in early August.

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

Even with Amazon hitting the $1 trillion mark, Ben Barringer, an equity research analyst at Quilter Cheviot, said Amazon still has a long way to go - but say they, one day, could end up bigger then Apple.

Shares in the e-commerce giant rose almost 2% to a high of $2,050.50 in morning trade before slipping back. The share price has since dropped down, so the company was only valued at $1 trillion for a brief few minutes. It's book value is now greater than that of every stock listed in all but 13 countries, including those of Taiwan, Spain, and Italy, according to the CIA's World Factbook.

'Amazon has now become the second company to reach a trillion dollar valuation, following Apple in August this year, ' he said.

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Amazon's shares debuted at $18 on May 15, 1997.

Note that Morgan Stanley's theoretical breakdown assumes a stock price of $2,500 (R38,242) - higher than Amazon's current price, and thus a market value of slightly higher at $1.32 trillion.

Amazon has also formed partnerships with many old-line retailers, selling the Kenmore washing machines traditionally found at Sears and opening stations inside Kohl's stores where people can bring returns and look at Amazon devices. Amazon Web Services provides cloud computing services to companies and government, and its advertising division makes billions by selling ads to companies that want their products to show up when shoppers search on the site.

It's an accomplishment for Chief Executive Officer Jeff Bezos, who is the world's wealthiest person.

Bezos' riches have largely come through his ownership of 16.3% of Amazon's outstanding stock.

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