Amazon becomes the country's second $1 trillion company

05 September, 2018, 12:09 | Author: Salvatore Jensen
  • Is Amazon a monopoly

Its shares hit the $2050.2677 level to give its stock a value of $1 trillion. Multiplied by the current number of shares outstanding - 487,741,189 - that puts the company's book value just over the same symbolic milestone that Apple hit less than one month ago.

On Tuesday, Amazon became the second us company to reach a market value of $1 trillion.

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

Like most tech billionaires, Jeff Bezos's net worth rises and falls based on his company's performance in the stock market.




One of Amazon's revenue drivers is its Prime subscription service which offers streaming video and music, free delivery and other perks and which has more than 100 million members worldwide. That happened barely a month after Apple crossed that threshold. Amazon shares first hit $1,000 on October 27, 2017.

Amazon has revolutionized how people shop online and is the world's dominant internet retailer. By early afternoon, Amazon's stock was trading at $2,030 per share, up less than 1 percent, putting its market cap at $990 billion. 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 stock has doubled in price over the past year, eclipsing the $2,000 mark on August 30.

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

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

Recommended:

  • President escalates attacks on his attorney general

    President escalates attacks on his attorney general

    Trump went on Twitter on Sunday afternoon to blame Attorney General Jeff Sessions for the timing of the indictments of Reps. He was appointed in November 2017 by Attorney General Jeff Sessions , also a Republican".
    Federer, Djokovic lead third-round thrills

    Federer, Djokovic lead third-round thrills

    Kyrgios himself defended Lahyani after the match as he said: " He was just concerned about how I was playing ". I don't go out at all", said the 21-year-old who will next face compatriot Philipp Kohlschreiber .
    CBB 2018: Roxanne Pallett accuses Ryan Thomas of 'lying and manipulating'

    CBB 2018: Roxanne Pallett accuses Ryan Thomas of 'lying and manipulating'

    She claimed that the Coronation Star punched her several times, however Ryan said he meant no harm and apologised. He was reminded of the show's rules and given a formal warning.
  • Gulf Coast braces for Gordon's expected arrival as hurricane

    Gulf Coast braces for Gordon's expected arrival as hurricane

    With strong winds pushing against the coast, there is the concern of a 3-5 foot storm surge in Alabama, Louisiana and Mississippi. In New Orleans, Mayor LaToya Cantrell issued a voluntary evacuation notice for areas outside of the New Orleans levee system.
    Malaysia: Women caned in public for lesbian act

    Malaysia: Women caned in public for lesbian act

    Ahead of the punishment, Gwen Lee, Amnesty International's Malaysia head, slammed the punishment as "cruel and unjust". It is also the first time a public caning has occurred in the state, a member of the state executive told Reuters .
    Cleveland Indians acquire former American League MVP Josh Donaldson

    Cleveland Indians acquire former American League MVP Josh Donaldson

    Although speculative, Paul Hoynes of Cleveland.com names RHP Julian Merryweather as a player "rumoured to be headed to Toronto ". On Thursday, he homered in his first at-bat in the second game of his rehabilitation assignment with Class-A Dunedin.
  • Donald Trump scraps $300M Pakistan aid cash over terrorism claims

    Donald Trump scraps $300M Pakistan aid cash over terrorism claims

    Pakistan is still believed to have the strongest influence over the Taliban, making its cooperation necessary for peace talks. Pak-US ties should be on equality basis. "With China, Pakistan already had good relations so Pakistan can not be isolated".
    Tropical Storm Norman forecast to reach hurricane strength today

    Tropical Storm Norman forecast to reach hurricane strength today

    With the forecast track keeps Miriam away from the Hawaiian Islands, no impact to land is expected through the Labor Day Weekend. EDT on August 28, Tropical Depression 16E strengthened into a tropical storm and was renamed Norman.
    I'm still one of the greatest - Jose Mourinho

    I'm still one of the greatest - Jose Mourinho

    The 44-year-old Wales boss is 12-1 with some bookmakers to succeed Mourinho but said yesterday: 'Keep your money in your pockets. But Giggs urged the fans to back Mourinho despite the losses and said that United can bounce back.
  • Trump to Bloomberg: Sessions' job is safe until at least November elections

    Trump to Bloomberg: Sessions' job is safe until at least November elections

    JOHN DICKERSON: But serving at the pleasure of the president means the president could fire you if he didn't like your haircut. Trump said in a Twitter post on Saturday that Sessions "doesn't understand what is happening underneath his command position".
    Liverpool goalkeeper Alisson exchanged words with teammate after howler

    Liverpool goalkeeper Alisson exchanged words with teammate after howler

    Jurgen Klopp's team won again to retain their ideal record, but they were blighted by a awful mishap from Alisson. It wasn't a good performance in most aspects; pressing defending, keeping the ball, it was tough work".
    Biden laments Senate's division in eulogy for McCain

    Biden laments Senate's division in eulogy for McCain

    The image he carries with him of Beau , he said, is one of him starting a boat, smiling and waving. He will then be buried on Sunday at the US Naval Academy in Annapolis, Maryland.


Popular

US Open - Rafael Nadal vs Dominic Thiem Preview & Prediction
When play resumed he served three double faults to get broken before finishing off the match in the next game. Basilashvili has had a strong showing in the tournament. "The crowd just kept me in it, " Isner said.

Typhoon Jebi: Japan hit by strongest storm for 25 years
The capital, Tokyo , will be far from the center of the storm but was set for heavy rains and high winds by the end of Tuesday. The meteorological agency urged residents in western and eastern Japan to prepare for high seas, landslides and floods.

Petrol price to rise by 5 cents
The surge in fuel prices is largely attributed to the rise in crude oil prices and high rate of excise duty in the country. The price of petrol increased by Rs 0.31 per litre while that of diesel was hiked by Rs 0.39 per litre.

Roger Federer stuns ‘showman’ Nick Kyrgios with shot of US Open 2018
John Isner, of the United States, celebrates after defeating Milos Raonic, of Canada, during the fourth round of the U.S. But, he may need to step out of his comfort zone and play more aggressively if he wants to win this match.

China's JD.com: founder returns to Beijing after US arrest
Mr Liu, one of China's richest people, was arrested in Minneapolis shortly before midnight on Friday and released on Saturday afternoon.

Cristiano Ronaldo will 'take time' to adjust to life at Juventus
United travel to Burnley on Sunday, and a defeat to the Clarets will leave the Portuguese walking a tightrope. Things are set to be emotional as Ronaldo is set to face United in the Champions League.

President Kenyatta arrives in Beijing to attend China-Africa Summit
The Forum on China-Africa Cooperation, opening Monday, brings together leaders from China and more than 50 African countries. Lourenco said Angola-China relations are strong and firm.

Huawei Mate 20 Lite announced with 6.3-inch display for £379
The Mali-G76 utilises AI to intelligently identify gaming workloads and adjust resource allocation for optimal gaming performance. However, the Kirin 980's actual worth may be defined when it comes up against a Snapdragon counterpart in real-world tests.

Chelsea boss Maurizio Sarri
Late goals from Pedro and Eden Hazard have earned Chelsea a 2-0 victory over Bournemouth in Saturday's Premier League clash at Stamford Bridge.

Bears To Acquire Star Pass Rusher Khalil Mack | 670 The Score
The team would then negotiate a long-term contract with the star, who has held out over a contract dispute with the Raiders. Dorsey did not want to part with multiple first-round picks in addition to a core piece of the defense.