Amazon Hits $1 Trillion

Amazon Hits $1 Trillion

Amazon Hits $1 Trillion

The online retail giant breached the $1 trillion valuation near 1540 GMT when it's share price hit $2,050.50.

Just 10 months later, on August 30, Amazon shares hit $2,000 for the first time, just $50 per share away from giving the company a $1 trillion market value.

One trillion is a hard number to imagine, regardless of what's being counted. The share price has since dropped down, so the company was only valued at $1 trillion for a brief few minutes.

Amazon's stock rose 1.7 per cent overnight, putting its market value at just over $US1 trillion ($A1.4 trillion).

But of that massive revenue, retail is slowly beginning to take a back seat to other higher-margin services. Its shares hit the $2050.2677 level to give its stock a value of $1 trillion.

Amazon has revolutionised how people shop online and is the world's dominant Internet retailer. It is the country's second-largest private employer, behind Walmart, and so far this year has posted $4.1 billion in profit.

In the second quarter the unit accounted for 55 percent of Amazon's operating income and 20 percent of total revenue, according to Morgan. Bezos brought home an annual salary of $81,840 in 2017, according to regulatory filings.

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.

He added: "We continue to aspire to be Earth's most customer-centric company, and we recognize this to be no small or easy challenge".

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