Amazon becomes 2nd U.S. company to reach Dollars 1 trillion value

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Apple became the first $1 trillion company last month. Amazon stock has doubled in price over the past year, eclipsing the $2,000 mark on August 30. For context, the entire United States stock market - the sum of all publicly traded American companies, including Amazon - hit $30 trillion in January.

But, is Apple really comparable to Amazon? 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. 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.

Amazon and Apple are both worth about US$1 trillion. In the second quarter, AWS booked $6.1 billion in sales (up 49%), and generated an operating income of $1.64 billion (up 79%).

"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.

Shares of the e-commerce giant gained about 2% in trading on Tuesday to hit an all-time high of $2,050.27. It has held above that level since October 27, 2017.

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Amazon has become the second US public company to cross the $1 trillion valuation threshold this year.

Amazon reported almost $US53b in sales in the three months ended in June, with record quarterly profit of $US2.5b.

While Amazon's and Apple's runs created plenty of fanfare, they're not the first companies to hit the $1 trillion level.

For graphic on Analyst Price Targets, click The stock is up 74.5 percent year to date.

Amazon's stock has increased nearly 600 percent in the last five years, including a more than 70 percent surge so far in 2018 alone.