Amazon is 2nd USA company to reach $1 trillion market value

Amazon is 2nd USA company to reach $1 trillion market value

Amazon is 2nd USA company to reach $1 trillion market value

Amazon went public at $18 a share in 1997 - on Tuesday those shares hit $2,050, pushing the value of the whole company over $1trn. The shares climbed as high as $2,050.50 in intraday trading in NY, just above the $2,050.27 level that gives the ecommerce and cloud computing giant a market capitalisation of $1 trillion. Apple became the first $1 trillion company last month.

Analysts expect Apple's revenue to jump 14.9 percent in its fiscal year ending in September, according to Thomson Reuters data, a hefty rise but still far short of Amazon's expected revenue growth of 32 percent for 2018.

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.

In the past quarter, Amazon posted its best-ever profit of US$2.5 billion as Bezos, whose stake in the company has made him the richest person, highlighted the importance of digital assistant Alexa that powers Amazon electronics along with cars, appliances and other connected devices. That happened barely a month after Apple crossed that threshold.

It's official: Amazon is the second USA company to achieve a valuation of more than $1 trillion.

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Amazon's stock rose 1.7 per cent, putting its market value at just over US$1 trillion. The company has more than 487.7 million outstanding shares, according to its most recent financial filing.

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.

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.

"The company continues to experiment with new products and push into new geographies".

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