Note that Morgan Stanley's theoretical breakdown assumes a stock price of $2,500 (R38,242) - higher than Amazon's current price, and thus a market value of slightly higher at $1.32 trillion.
As soon as one company has reached that $1 trillion mark, you know it won't be long until another follows in suit - only weeks after it happened for Apple, Amazon has joined the ranks in the "trillion-dollar club".
Amazon and Apple are both worth about US$1 trillion.
Apple took nearly 38 years as a public company to achieve the trillion dollar milestone, while Amazon got there in 21 years.
'Very strong' typhoon Jebi on course to hit Japan
In the city of Osaka, the Universal Studios Japan theme park and United States consulate both were closed. Almost 600 flights were cancelled, along with scores of ferries and trains, NHK public television said.
Amazon has impressed investors by successfully diversifying its business into virtually every corner of the retail industry, altering how consumers buy products and putting major pressure on many brick-and-mortar stores. And its cloud computing services for companies have become a major driver of earnings and revenue.
Its chief executive, Jeff Bezos, is the world's richest man, with a net worth of more than $160bn.
Amazon's shares debuted at $18 on May 15, 1997. It has held above that level since October 27, 2017. Multiplied by the number of shares outstanding (487,741,189), that puts the company's book value just over the same symbolic milestone that Apple hit less than one month ago.
The Seattle-based company's stock has grown over 70 percent year-to-date, and has gained over 3,000 percent in the past decade.
Amazon now trades up 74.0 percent for the year to date. In comparison, Apple has risen about35.0percent in 2018.