Amazon becomes second $1 trillion company in US

Amazon becomes second $1 trillion company in US

GlobalData Retail managing director Neil Saunders called Amazon's valuation achievement "extraordinary" and considered it a sign of the company's potential.

The e-commerce giant's stock rose to a high of $2,050.50 on Tuesday morning.

Amazon and Apple are both worth about US$1 trillion. Google's parent company Alphabet is still the third-largest by market capitalization, but it's not likely to break a trillion in the near future; its total valuation is now about $838 billion.

On August 2, Apple became the first United States company to reach a total market capitalization of $1 trillion. And they first hit $1,000 on October 27, 2017.

Amazon's financial and business successes even pushed the founder and CEO, Jeff Bezos, right to the top of Forbes' billionaires list this year.

Djokovic sends massive warning shot to Federer and Nadal
As the temperatures rose so did the tempers, with both players engaging in animated arguments with chair umpire James Keothavong. Keys punched her ticket to the quarterfinals with a dominant 6-1, 6-3 victory over No. 35 seed Dominika Cibulkova of Slovakia.

Here's the breakdown of how Morgan Stanley - one of the stock's most bullish sell-side shops - sees Amazon's five main units in terms of value.

The online retailer's shares then hit the $2050.2677 level to give its stock a value of $1 trillion.

Amazon, founded by Jeff Bezos as an online bookseller in 1994, has grown rapidly into one of the country's largest and most influential companies. In the second quarter, AWS booked $6.1 billion in sales (up 49%), and generated an operating income of $1.64 billion (up 79%). Bezos brought home an annual salary of $81,840 in 2017, according to regulatory filings. Amazon stock has doubled in price over the past year, eclipsing the $2,000 mark on August 30.

He added: "We continue to aspire to be Earth's most customer-centric company, and we recognize this to be no small or easy challenge".

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