Amazon becomes nation's second public trillion-dollar company


In context: Amazon temporarily hit a total market capitalization of $1 trillion today, after its stock prices shot past the the $2,050.27 valuation necessary to reach this milestone.

The e-commerce giant's stock rose to a high of $2,050.50 on Tuesday morning.

Indeed, it was less than a year ago in early October 2017 that Amazon shares first crossed the $1,000 mark.

Amazon's market valuation in recent weeks pulled ahead of two other tech giants - Google's parent company, Alphabet, and Microsoft - to hit the $1 trillion mark.

Amazon has impressed investors by diversifying into virtually every corner of the retail industry, altering how consumers buy products and putting big pressure on many brick-and-mortar stores. For example, you can expect to see Amazon commercials during NFL Thursday Night Football this season, as well as ads on video game streaming service Twitch, which the company acquired in 2014.

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Amazon on Tuesday became the second U.S. public company after Apple to hit the $1 trillion valuation mark.

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

"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.

Jeff Bezos, the founder and CEO - who is already the world's richest man - saw his personal fortune rise on Tuesday as well. The company's stock has surged more than 70 percent since January, outperforming Apple, which has gained more than 30 percent. Bezos's fortune was measured at just under $100 billion at the start of 2018, so he is theoretically up more than $66 billion in unrealized gains so far this year.