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Amazon's Stock Value Has Crossed $1 Trillion, Joining Apple

05 September 2018

Shares of the e-commerce giant gained about 2% in trading Tuesday to hit an all-time high of $2,050.27. Apple was the first public company to reach such a valuation last month.

It crossed the line at 16:40 BST before falling back slightly.

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 has briefly become the second US-listed firm to have a market value of more than $1 trillion (£779bn).

Its founder Jeff Bezos is the world's richest person. But in 2018, Amazon first reported profit of nearly $2 billion and then another quarter of more than $2 billion.

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

Amazon crossed the $2,000 threshold for the first time on August 30 after doubling its price in just 10 months. The share price has since dropped down, so the company was only valued at $1 trillion for a brief few minutes.

Buying the Whole Foods grocery chain a year ago got Amazon established real world outlets while putting its delivery and retail smarts and systems to work in the brick-and-mortar world.

Now, Amazon has followed in Apple's footsteps - the online retail giant successfully snagged the trillion-dollar company title for itself today, albeit temporarily.

'The difference between the two is that Amazon has room to grow within its two main businesses.

Amazon's Stock Value Has Crossed $1 Trillion, Joining Apple