Amazon flags the label of second US$1 trillion company

  • Sep 05, 2018 AEST
  • Team Kalkine
Amazon flags the label of second US$1 trillion company

It took almost 38 years for Apple as a public company to achieve the trillion-dollar milestone whereas Amazon reached there in just 21 years.

On 5 September 2018 (AEST), Amazon.com has become the second US trillion dollar company following the milestone first achieved by iphone maker Apple. Falling just short of the milestone level of $2,050.2677, Amazon shares traded as high as $2,050.50 before easing a little to end the session up 1.3 percent at $2,039.51.

Jeff Bezos led Amazon was founded by him in 1994 as an online bookseller. Altering how consumers buy products and putting big pressure on many brick-and-mortar stores, Amazon has impressed investors by diversifying into virtually every corner of the retail industry. Company’s cloud business, Amazon Web Services, and fast-growing advertising have been the major driver in uplifting the profit wheels of the company.

Before hitting the market valuation of $US1 trillion, the company has surpassed two other tech giants – Google’s Alphabet and Microsoft. So far Amazon’s stock has observed an increase of 70% as US tech stocks rushed to reach record highs. 

With the flagship in e-commerce business, Seattle-based giant has proven an astounding sales growth in the past as compared to the Apple’s whose revenue are still growing but not as fast as Amazon’s. In the approach of business, Amazon is a little bit more dynamic with its cloud business being an extra growth driver as compared to Apple which does not have cloud services. According to Morgan, in the second quarter the unit accounted for 20 percent of total revenue and 55 percent of Amazon’s operating income.

The company known for reinvesting its profit back in the business, has reported 12-fold earnings growth for 13 straight quarters to $US2.5 billion in the most recent quarter.

Amazon’s stock market valuation may eclipse that of iPhone maker Apple, if the online retailer’s shares keep up their recent pace.

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