Amazon Inc touches $1 trillion in value, after Apple
An electronic commerce company, Amazon.com Inc. become the second $1 trillion publicly listed American company.
Amazon’s stock price more than doubled during the period of one year as it grew fast in the retail and the cloud computing. However, Apple is at the top of the list of the trillion-dollar companies.
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On Tuesday morning, the shares of the company rose as high as $2,050.50, pushing the company over $1 trillion in value, before instantly falling down and then the day ended at $2,039.51, below the $1 trillion thresholds.
Jeff Bezos, the founder and chief executive of Amazon is worth nearly as much as the Microsoft’s founder Bill Gates and Warren E. Buffett put together.
The company bags 49 cents of every e-commerce dollar in the United States of America. Amazon has more than 550,000 employees, and the company claims to generate $178 billion in annual revenue.
Amazon is the world’s biggest electronic commerce company, which sells almost everything from computing space to peanut butter to appointments with plumbers.
Apple took 38 years to achieve the milestone of $1 trillion publicly listed US Company, while the Amazon has managed to achieve the target in 21 years.
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