Amazon becomes the 2nd U.S. company to join the $1 trillion club

Sean Reid
September 5, 2018

Amazon boss Jeff Bezos is a very, very wealthy man. The shares climbed as high as $2,050.50 in intraday trading in NY, just above the $2,050.27 level that gives the ecommerce and cloud computing giant a market capitalisation of $1 trillion. Apple topped the $1 trillion mark in early August.

Later on Tuesday, Amazon's market value dipped below the trillion-dollar mark again.

The founder and chief executive also avoided scandals or other distractions, keeping revenue and costs close enough to manage and easing into "adjacent markets" that play into Amazon strengths or interests, according to Enderle. That milestone, just a month after it reached a $900 billion valuation threshold.

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

Still plenty of catalysts could affect the horse race ー investors will be closely watching Apple's big iPhone reveal next Wednesday, and the all-important holiday shopping season will be key for Amazon.

Shares in the world's largest online retailer last traded up 1.4% at $2,041.68.

The Seattle-based company has cemented customer loyalty through smart devices like Alexa and the Prime membership programme that offers fast, free shipping as well as music and video streaming perks.

This article was written by Abha Bhattarai, a reporter for The Washington Post.

In the second quarter the unit accounted for 55 percent of Amazon's operating income and 20 percent of total revenue, according to Morgan. The Post has said that Bezos plays no role in editorial decisions.

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