Amazon Is Second US Company to Reach $1 Trillion Market Value

Associated Press |


NEW YORK (AP) — Amazon  (AMZN) has become the second publicly traded company to be worth $1 trillion, hot on the heels of Apple  (AAPL).

Amazon has revolutionized how people shop online and is the world's dominant internet retailer. In two decades the company expanded far beyond its bookseller beginnings, combining its world-spanning retail operation with less flashy but very profitable advertising and cloud computing businesses.

The company's blowout success made its founder and CEO, Jeff Bezos, No. 1 on Forbes' billionaires list this year.

The Seattle-based company has cemented customer loyalty through smart devices like Alexa and the Prime membership program that offers fast, free shipping as well as music and video streaming perks.

Amazon's stock rose 1.7 percent, putting its market value at just over $1 trillion. Apple topped that mark in early August.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer

Companies

Symbol Name Price Change % Volume
AAPL Apple Inc. 218.37 0.13 0.06 27,108,563 Trade
AMZN Amazon.com Inc. 1,926.42 -14.63 -0.75 4,042,200 Trade

Comments

Emerging Growth

MGX Minerals Inc.

MGX Minerals is a diversified Canadian mining company listed on the Canadian Securities Exchange. MGX is engaged in the acquisition and development of industrial mineral deposits in western Canada that…