Amazon follows Apple to cross trillion-dollar milestone

Amazon becomes world's second $1tn company

Amazon follows Apple to $1trn market value in tech share surge

Bezos is now worth over $165 billion, well ahead of runner-up Bill Gates, whose wealth clocks in at just over $98 billion, according to Bloomberg.

It's official: Amazon is the second American company to achieve a valuation of more than $1 trillion. Apple topped the $1 trillion mark in early August.

One trillion is a hard number to imagine, regardless of what's being counted. At the time, the company revealed that it slightly missed the sales figures Wall Street analysts had been hoping for, but more than exceeded their expectations for profits, with earnings of $5.07 per share on profits of $2.53 billion for the quarter.

Amazon became the second big United States company to hit $1 trillion in stock market value in the latest demonstration of the rising clout of American technology heavyweights.

Even more telling is Amazon's size when compared with the entire national stock markets of other countries.

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That may sound like a huge sum separating the two, but Amazon could actually surpass the iPhone maker in short order ー the stock's 74 percent gain this year is more than double that of Apple, and if shares of both companies keep the same pace, Amazon could close the gap by the end of the year. "Now that it has several high-margin revenue streams, we're seeing those doubts subside".

Investors are betting that Amazon can continue the stellar growth of its ecommerce business, which provides the bulk of its revenues.

Its shares then hit the $2050.2677 level to give its stock a value of $1 trillion.

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

Amazon's $1 trillion has been coming for weeks. Bezos brought home an annual salary of $81,840 in 2017, according to regulatory filings. 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.

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