Amazon becomes the world's second trillion dollar company after Apple

Amazon becomes the world's second trillion dollar company after Apple

Amazon just became the second member of the trillion-dollar club.

Amazon - founded as an online book-retailer in Chief Executive Jeff Bezos' garage in 1994 - started trading on May 15 1997 at $1.50 on a split-adjusted basis.

Apple Inc. may have gotten there first, but Amazon.com's rapid ascent to a $1 trillion market value should put the iPhone maker on notice that its days as the world's most valuable company are numbered.

In two decades the company expanded far beyond its bookseller beginnings, combining its world-spanning retail operation with less flashy but very profitable advertising and cloud computing businesses.

The Seattle-based company has secured their customers loyalty through smart devices like Alexa and the Prime membership - a service that offers free next day deliver as well as music and video streaming perks.

Thibaut Courtois Makes His Real Madrid Debut, Brutally Trolls Chelsea
And after the victory the 26-year-old aimed a few barbed comments at Chelsea, as reported in the Daily Star . Costa Rica netkeeper Keylor Navas had played for the club in the first two matches this season.

The company's stock gained 2 percent on Tuesday, hitting $2,050.27 per share.

On Monday a rise in the share price of Amazon, which is listed on the Nasdaq stock exchange in the U.S., briefly took it above the trillion-dollar watermark for the first time with the company's value hovering clse to. It is now worth about $1.1 trillion. It first reached $100 on October 23, 2009.

Apple became the first $1 trillion company last month.

Ben Barringer, an equity research analyst at Quilter Cheviot, said Amazon still has a long to way go, which means it could end up bigger then Apple.

Amazon is now the second publicly traded U.S company to hit $1 trillion valuation. The combined value of both companies is equal to roughly 10 percent of USA gross domestic product. Although it is well established in the USA and United Kingdom, it has huge scope to grow in the rest of Europe and Asia, especially India.

Related Articles

  • Federer blames heat for shock loss to unseeded Millman

    Roger Federer said the NY heat was a major factor in his shock defeat to world number 55 John Millman at the US Open on Monday. But the 29-year-old Brisbane native with no titles to his name might have won his share of fans in NY .
    Roxanne Pallett apologises for Big Brother blow-out

    Roxanne Pallett apologises for Big Brother blow-out

    Although Ryan has had overwhelming support from the public, Lucy insisted that Roxanne should apologise to her boyfriend. Online, they said: "Roxanne has made a mockery of the Me Too movement with that fake apology and lies about Ryan".
    Rafael Nadal tops Novak Djokovic for a Career Grand Slam

    Rafael Nadal tops Novak Djokovic for a Career Grand Slam

    The 13-time Grand Slam victor had made easy work of the opening set, breaking Sousa twice, the second time to close out set. Nishikori will fight for a semi-final berth against Croatian Marin Cilic , who beat him in the 2014 final.
  • Pochettino rips defenders as Tottenham succumbs to Watford

    Pochettino rips defenders as Tottenham succumbs to Watford

    You need to show respect because to compete to win it is not easy. "Today, it's good to compare". I was more upset after Monday".
    Strongest typhoon in quarter century hits Japan

    Strongest typhoon in quarter century hits Japan

    The Sankei daily reported Kubota and Daikin Industries kept workers home from their facilities in the region surrounding Osaka. The Tokyo metropolitan area may see strong winds, though the typhoon is unlikely to pass close to the capital.
    Meeting 'idol' Springsteen like winning US Open for Del Potro

    Meeting 'idol' Springsteen like winning US Open for Del Potro

    The Spaniard eventually edged it on a 39-shot rally, with three double faults from his opponent proving particularly costly. Coric made the fourth round of a Slam for the first time with a 6-3, 7-5, 6-2 victory over Russia's Daniil Medvedev.
  • Roger Federer vs John Millman: US Open fourth round preview and prediction

    Roger Federer vs John Millman: US Open fourth round preview and prediction

    The first set was the only competitive one, when Kyrgios's best qualities were on display and Federer hadn't quite settled in yet. The unseeded Portuguese will play Novak Djokovic or Richard Gasquet in his maiden fourth-round appearance at a major.

    Batista Doesn't Know If He Wants To Work With Disney Anymore

    The latest news suggests that Disney is putting Guardians 3 on hold until they secure a replacement director. The ousting of James Gunn from the third Guardians of the Galaxy film has left Dave Bautista incensed.
    Amber alert issued for boy in Florida after mom knocked unconscious

    Amber alert issued for boy in Florida after mom knocked unconscious

    Police say the man offered Jordan and his mother a ride, but then knocked the mom unconscious and left her in the woods. He also has a partially-healed cut on the underside of his chin and a birthmark on the right side of his stomach.
  • Ex-NFL player named newest star of ‘The Bachelor’

    Booth noted that she's thankful that this chapter has ended and she wished Colton the best as they both work on beginning new chapters.
    Fraser Heath investigating outbreak of Legionnaires' disease in Surrey, B.C.

    Fraser Heath investigating outbreak of Legionnaires' disease in Surrey, B.C.

    A cautionary warning has been issued to the people most at risk of contracting the disease to stay away from this area. Legionnaires' disease is a pneumonia-like illness caused by inhaling water vapor containing legionella bacteria .
    Three People Missing After Colorado River Boat Collision

    Three People Missing After Colorado River Boat Collision

    The search for two people "presumed submerged" was halted overnight, the San Bernardino County Fire District said in a statement. Officials deemed it too risky to allow divers in the water after dark but planned to resume their search Sunday morning.