Amazon reaches US$1 trillion in market value

05 September, 2018, 00:00 | Author: Dave Hampton
  • Amazon CEO Jeff Bezos walks onstage for the launch of the new Amazon Fire Phone in Seattle. On Tuesday Sept. 4 2018 Amazon became the second publicly traded company to be worth $1 trillion hot on the heels

Note that Morgan Stanley's theoretical breakdown assumes a stock price of $2,500 - higher than Amazon's price on Tuesday - which would give it a slightly higher market value of $1.32 trillion.

On August 2, Apple became the first USA company to reach a total market capitalization of $1 trillion. That happened barely a month after Apple crossed that threshold.

It's official: Amazon is the second American company to achieve a valuation of more than $1 trillion (R15,2 trillion).

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'Amazon has now become the second company to reach a trillion dollar valuation, following Apple in August this year, ' he 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.

Amazon also provides video streaming services and bought upscale supermarket Whole Foods. "Amazon's cloud business is an extra growth driver that Apple doesn't have", said Daniel Morgan, portfolio manager at Synovus Trust in Atlanta, Georgia who describes Amazon's cloud services as its "crown jewel".

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For fiscal 2017, Amazon and its 560,000 employees around the world reported total sales of $177.87 billion, netting it an adjusted profit of $6.15 per share, according to the company's annual report.

It has revolutionised how people shop online and is the world's dominant internet retailer.

Amazon's success pushed Jeff Bezos, founder and CEO, to the top of Forbes' billionaires list this year.

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The stock gained 2% to hit the magic number of $2,050.27, or R31,356, per share on Tuesday. In comparison, Apple has risen about34.7 percent year to date.

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