Amazon follows Apple to $1trn market value in tech share surge

Amazon's effect on local economies

Amazon touched a market value of $1 trillion Tuesday, becoming just the second publicly traded company to reach the milestone.

The online retail giant eclipsed the $1-trillion mark Tuesday morning when the price of one of its 487,741,189 shares rose to $2050.27, according to CNBC.

Apple Inc. may have gotten there first, but Amazon.com's rapid ascent to a $1 trillion market value should put the iPhone maker on notice that its days as the world's most valuable company are numbered.

It crossed the line at 16:40 BST before falling back slightly. Bezos, Amazon, and the Bezos owned Washington Post have become frequent targets of criticism from President Donald Trump.

Amazon becomes second company to hit $1 trillion value
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. On Tuesday, Amazon became the second US company to reach a market value of $1 trillion.

Even more telling is Amazon's size when compared to the entire national stock markets of other countries. In 2007, PetroChina Company's market cap surpassed the $1-trillion mark though the Chinese company's complex structure ensured that most of the shares stayed with the government, The Wall Street Journal reported.

It's an accomplishment for Chief Executive Officer Jeff Bezos, who is the world's wealthiest person. Amazon Web Services, for instance, a unit that provides hosting and cloud computing for other businesses, brought in $20 billion of revenue in 2017. The Cupertino-based iPhone-maker is now worth about $1.1 trillion. The 54-year-old is now worth more than $166 billion, according to Bloomberg's billionaires index on Tuesday.

"The company continues to experiment with new products and push into new geographies".

Related News:

  • Microsoft redesigns Skype to win back customers - Collaboration

    Microsoft redesigns Skype to win back customers - Collaboration

    Skype has floundered in recent years, among increased competition from services like WhatsApp, Hangouts, Discord, and others. This time, however, it's making changes to right the wrongs of past tweaks and to win back consumer trust.
    Djokovic through, could meet Federer

    Djokovic through, could meet Federer

    But Keys struck once more with a flurry of winners at 3-3, overpowering Cibulkova in that game to reclaim her break advantage. The biggest concern for Djokovic might well have been the conditions as the heat returned to NY after a few days of relief.
    Trump Warns Syria’s Assad, Russia, Iran Not to ‘Recklessly Attack’ Idlib

    Trump Warns Syria’s Assad, Russia, Iran Not to ‘Recklessly Attack’ Idlib

    It is also a hub for the Iranian Qods Force, which has propped up the Assad regime during the seven and a half years of the war. About four explosions were heard coming from the direction of the military airport Saturday, a Damascus resident told CNN.
  • Roger Federer Crashes Out Of US Open

    Roger Federer Crashes Out Of US Open

    As we consider implications of this morning, it's worth remembering what happened in the years following the Robredo upset. While the shocking win will be great for Millman's bank balance , one customer was made to regret the result.
    People Burning their Shoes as Kaepernick Becomes Nike Poster Boy

    People Burning their Shoes as Kaepernick Becomes Nike Poster Boy

    Over 30,000 people were tweeting with the hashtag #NikeBoycott on Tuesday, making it among the top trending topics on Twitter. But other analysts said the ads could boost Nike's standing with core consumers, including minorities and millennials.

    26-year-old virgin Colton Underwood is the next Bachelor

    Another called Colton "an opportunist" and many more said they would not be tuning into the new season in January. He got media attention when he revealed he was a virgin and had previously dated gymnast Aly Raisman .
  • Gulf Coast braces for Tropical Storm Gordon to reach hurricane strength

    Red flags flew over Pensacola-area beaches in Florida's Panhandle, where swimming and wading in the Gulf of Mexico was prohibited. It is about 1,205 miles west-northwest of the Cabo Verde Islands and about 1,300 miles east-northeast of the Lesser Antilles.
    How shrewd Mourinho has put us back in contention: Matic

    How shrewd Mourinho has put us back in contention: Matic

    The pressure on the United manager eased yesterday when his team defeated Burnley 2-0 to end a run of two successive losses. Mourinho was in a cheerful mood after the game, but the same can't really be said for Alexis Sanchez in the second half.
    'Cluster' of cases of Legionnaires' disease confirmed in Surrey

    'Cluster' of cases of Legionnaires' disease confirmed in Surrey

    The symptoms are similar to general pneumonia, which includes cough, fever, headaches, muscle ache, and shortness of breath. The 14 victims are believed to have acquired their infections between early June and mid-August.
  • Jon Gruden’s Explanation For Khalil Mack Trade Makes Absolutely No Sense

    Jon Gruden’s Explanation For Khalil Mack Trade Makes Absolutely No Sense

    Nagy said he likes the flexibility and depth that comes with Daniels, Kush and Whitehair all able to play both positions. And there aren't many days. "...'I wanted him gone, he wanted him here.' We made a decision as an organization".
    The latest Pixel 3 leak came from the back of a Lyft

    The latest Pixel 3 leak came from the back of a Lyft

    The Pixel 3 XL , on the other hand, is said to be powered by a Qualcomm Snapdragon 845 processor with 4GB of RAM. The device is supposedly a pre-production unit and was found after a Lyft driver checked his backseat.
    One woman dead and three victims missing after Colorado River boat crash

    One woman dead and three victims missing after Colorado River boat crash

    None of the boaters were wearing life jackets, which aren't required but are recommended by authorities, Shuster said. Six other people were rushed to local hospitals with less serious injuries and another six sustained minor injuries.


Most liked

Colin Kaepernick's Nike deal prompts flurry of debate
Nike also will create an apparel line for Kaepernick and contribute to his Know Your Rights charity. Some took to Twitter with videos of Nike gear burning , while others went out to buy more.

Anderson crashes out of US Open
In today's match, Roger Federer and Novak Djokovic will be one step away from a mouth-watering quarter-final clash when the U.S. Shapovalov held serve for the remainder of the match , coming back from four match points in one game to hold.

Stolen ruby slippers from "Wizard of Oz" recovered
The once-missing slippers are owned by collector Michael Shaw, who lent the slippers to the Judy Garland Museum every year. Incidentally, in the L Frank Baum book, The Wonderful Wizard of Oz , Dorothy has silver shoes rather than ruby slippers.

Roger Federer's Incredible Around The Net Post Shot At The US Open
The third round was the end of the line for men's and women's fourth seeds from Germany - Alexander Zverev and Angelique Kerber. There was an also upset at Louis Armstrong Stadium as in-form Belgian Kiki Bertens fell to Czech teenager Marketa Vondrousova.

George Bush turns candy man for Michelle Obama at senator McCain's funeral
Republicans maintain narrow control on the Senate, and Democrats are hoping to win control in the midterm elections in November. Having grown up in a military household-his father and grandfather were both four-star admirals in the U.S.

Le'Veon Bell Not At Steelers' Practice, GM Releases Statement
Bell and Steelers wide receiver Antonio Brown arguably are the best players at their respective positions. Tomlin also said he is more comfortable about his running back depth than at this point past year .

The New Yorker Disinvites Steve Bannon From Festival After Twitter Uproar
The New Yorker's editor, David Remnick , was originally slated to interview Mr. A letter from Remnick, dated June 28, details the invitation to Bannon .

Trans Mountain suspending expansion construction activities
He said he expects the Kinder Morgan sale to be finalized on Friday and called it a good financial decision. The TMP carries oil from Edmonton to Burnaby, and the expansion would triple the capacity of oil exports.

Meghan McCain Glares At Vice President Mike Pence During Her Father's Funeral
Vice President Pence spoke at the Capitol on Friday, where the late Sen. Capitol Rotunda, where only 30 Americans have had the same honor.

Typhoon Jebi: Japan EVACUATIONS as deadly storm set to hit TODAY
Television footage showed waves pounding the coastline, sheet metal tumbling across a parking lot and a truck turned on its side. However, the ground remains saturated and many parts of Honshu remain flooded.

Apple admits dodgy logic boards have borked some iPhone 8 handsets
These two new iPhones i.e. the iPhone XS and the iPhone XS Plus will feature a 5.8-inch and 6.5-inch OLED display respectively. Apple has announced a special event, which will be held on 12 September, at the Steve Jobs Theatre in the firm's Cupertino HQ.

Nike teams with Colin Kaepernick in ad campaign National Football League will hate
The 30-year-old former San Francisco 49ers quarterback tweeted the above image Monday afternoon. The Nike adverts show Kaepernick with the slogan: "Believe in something".

Myanmar judge jails Reuters journalists for 7 years
Police officers asked the Reuters journalists to meet them over dinner on December 12, where they were handed rolled up documents. Wearing handcuffs and flanked by police, he addressed a cluster of friends and reporters. "We know we did nothing wrong".

Astronaut Plugs Hole In The International Space Station With Finger
The leak, which was detected on Wednesday night, may be the result of a micrometeorite strike, according to the Russian officials. The International Space Station, or ISS, is a science and engineering laboratory that orbits 250 miles (400 km) above Earth.

Australian model Sinead McNamara found dead on billionaire's yacht 'died by hanging'
A doctor on board and port officials tried to save the young woman, but she died in a helicopter en route to an Athens hospital. The yacht must remain in port as investigators try to piece together what happened in her final hours, local media reports.