Amazon becomes second $1 trillion company in US

Roman Schwartz
September 4, 2018

Amazon has become the second publicly traded company to be worth $1 trillion U.S., hot on the heels of iPhone maker Apple.

He said: "Amazon has now become the second company to reach a trillion dollar valuation, following Apple in August this year".

On Monday a rise in the share price of Amazon, which is listed on the Nasdaq stock exchange in the United States, briefly took it above the trillion-dollar watermark for the first time with the company's value hovering clse to. That's two $1 trillion businesses that started off in a garage. For context, the entire United States stock market - the sum of all publicly traded American companies including Amazon -hit $30 trillion back in January.

For the fiscal year 2017, Amazon and its 560,000 employees around the world reported total sales of $177.87 billion (R2,7 trillion), netting it an adjusted profit of $6.15 (R93) per share, according to the company's annual report. Apple topped the $1 trillion mark in early August.

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The Seattle e-commerce company's share price was $2,049.50 at 11:35 a.m. Amazon had $178 billion in revenues previous year. Amazon saw its quarterly profit soar past $2 billion United States for the first time earlier this year as the online shopping, cloud computing and advertising businesses all kept growing.

Congratulations on the $1,000,000,000,000, Jeff Bezos.

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

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