Amazon Hits $1 Trillion

Amazon's effect on local economies

Amazon has become the second publicly traded company to be worth $1 trillion, hot on the heels of iPhone maker Apple. 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. The stock closed at $2,039.51 Tuesday, about $11 short of keeping its valuation above $1 trillion.

Apple took nearly 38 years as a public company to achieve the trillion dollar milestone, while Amazon got there in 21 years.

Shares of the e-commerce giant gained about 2% in trading Tuesday to hit an all-time high of $2,050.27.

Even more telling is Amazon's size when compared with the entire national stock markets of other countries. It's book value is now greater than that of every stock listed in all but 13 countries, including those of Taiwan, Spain, and Italy, according to the CIA's World Factbook.

Sony Xperia XZ3 with OLED display, Snapdragon 845 launched at IFA 2018
In addition, the smartphone out of the box will be running Android Oreo, which he hid under a proprietary shell Xperia Home. Aside from the pretty OLED screen, 13MP selfie cam and thumb-activated app menu, this is the same phone as the XZ2.

Amazon's shares debuted at $18 on May 15, 1997.

Amazon founder Jeff Bezos is the world's richest man, worth over $150 billion. "Now that it has several high-margin revenue streams, we're seeing those doubts subside". Amazon had $178 billion in revenues previous year and made $2 billion in profit in its most recent quarter. Amazon Web Services provides cloud computing services to companies and government, and its advertising division makes billions by selling ads to companies that want their products to show up when shoppers search on the site. Bezos brought home an annual salary of $81,840 in 2017, according to regulatory filings.

Amazon shareholders have already had a extraordinarily good year.

"We continue to aspire to be Earth's most customer-centric company, and we recognize this to be no small or easy challenge".

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