Amazon Joins Apple in $1 Trillion Club

Is Amazon a monopoly

Is Amazon a monopoly

"It says a lot about Amazon and its ever-increasing dominance of segments of the retailing world as well as the web services business", said Peter Tuz, President Of Chase Investment Counsel In Charlottesville, Virginia.

As of writing, Amazon's market cap is sitting pretty at $994.75 billion; it's nearly a certainty that the company's valuation will top $1 trillion again relatively soon.

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Amazon shares, up 1.1 per cent at $2,035.68 last night, have soared by 75 per cent this year. Apple's stock price fluctuated in sync with Amazon's today, with a peak around 11:30 this morning and a trough about an hour later. And its cloud computing services for companies have become a major driver of earnings and revenue.

Amazon and Apple are both worth about US$1 trillion.

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Amazon‚ following hot on the heels of Apple‚ has become the second United States company to achieve a market capitalisation in excess of $1-trillion. In the second quarter, AWS booked $6.1 billion in sales (up 49%), and generated an operating income of $1.64 billion (up 79%).

Amazon - founded as an online book-retailer in Chief Executive Jeff Bezos' garage in 1994 - started trading on May 15, 1997 at $1.50 on a split-adjusted basis. Amazon shares first hit $1,000 on October 27, 2017. Now, just a month and change later, Amazon has done the same - however briefly. The company's stock reportedly rose almost two percent in the morning trading, thereby putting its market value just over the 13-digit territory. In comparison, Apple has risen about 35.0percent in 2018. The company's stock has surged more than 70 percent since January, outperforming Apple, which has gained more than 30 percent.

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