Amazon's Stock Value Has Crossed $1 Trillion, Joining Apple


Amazon has briefly become the second US-listed firm to have a market value of more than $1 trillion (£779bn).

Amazon is the second USA company to reach a $1 trillion valuation, after Apple hit the milestone earlier this month.

Amazon has become the second publicly traded company to be worth $US1 trillion, hot on the heels of Apple.

Apple was named as the first publicly listed United States company to be valued at $1,000,000,000,000 on August 2.

After the internet shopping giant surged past that $1 trillion mark, today, experts are saying it could even be bigger than the makers of the iPhone. The company's valuation has been teasing around the $1 trillion for a little while now, though all of that wait finally finished once the share price hit $2050.50.

Amazon crossed the $2,000 threshold for the first time on August 30 after doubling its price in just 10 months.

More news: Typhoon Jebi likely to hit Japan on Tuesday, country braces for landfall

Less than 25 year later, the company has garnered a major presence in everything from retail, to groceries, to video streaming, helping it rack up revenues of $178bn (£139bn) last year.

The Seattle e-commerce company's share price was $2,049.50 at 11:35 a.m.

Congratulations on the $1,000,000,000,000, Jeff Bezos.

Wall Street has grown very enthusiastic about Amazon's other businesses.

'We expect Amazon to continue doing well going forward, with the company having a proven ability to expand into new markets.