Amazon becomes second United States firm to hit trillion-dollar market value

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Apple crossed the trillion-dollar value threshold a month ago and has remained above it. Amazon became the second United States company at that eye-popping value.

The e-commerce juggernaut hit the 13-digit milestone Tuesday morning when its stock briefly surged to $2,050.50, passing the $2,050.27 mark to win a $1 trillion market capitalization.

Inc on Tuesday joined Apple Inc in the $1 trillion club, becoming the second member of the group after its stock price doubled in 15 months.

"Amazon's a little bit more dynamic than Apple because the iPhone has become more mature".

For example, Amazon's lucrative cloud computing business is built on technology infrastructure that the company needed to run its own operations.

"It says a lot about Amazon and its ever-increasing dominance of segments of the retailing world as well as the web services business", said Peter Tuz, President Of Chase Investment Counsel In Charlottesville, Virginia.

Amazon must also guard against the kind of arrogance that can undo companies that come to dominate markets, according to the analyst.

Amazon, founded by Jeff Bezos as an online bookseller in 1994, has grown rapidly into one of the country's largest and most influential companies. Amazon shares first hit $1,000 on October 27, 2017. That milestone, just a month after it reached a $900 billion valuation threshold. Amazon saw its quarterly profit soar past $2 billion for the first time earlier this year as the online shopping, cloud computing and advertising businesses all kept growing. In comparison, Apple has risen about 35.0percent in 2018.

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