Amazon becomes the country's second $1 trillion company

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He said: "Amazon has now become the second company to reach a trillion dollar valuation, following Apple in August this year".

Amazon has become the second company listed in the U.S. to achieve a market value of $1trn (£779.3bn).

As of writing, Amazon's market cap is sitting pretty at $994.75 billion; it's nearly a certainty that the company's valuation will top $1 trillion again relatively soon. That happened barely a month after Apple crossed that threshold.

Amazon has impressed investors by diversifying into virtually every corner of the retail industry, altering how consumers buy products and putting big pressure on many brick-and-mortar stores.

It also provides video streaming services and bought upscale supermarket Whole Foods.

Amazon is the second USA company to hit that mark, driven by its continued dominance in the retail world and its highly profitable cloud services business. And its cloud computing services for companies have become its main profit driver.

Amazon's shares debuted at $18 on May 15, 1997.

Amazon's financial and business successes even pushed the founder and CEO, Jeff Bezos, right to the top of Forbes' billionaires list this year. The company's valuation has been teasing around the $1 trillion for a little while now, though all of that wait finally finished once the share price hit $2050.50. It has held above that level since October 27, 2017. Multiplied by the number of shares outstanding (487,741,189), that puts the company's book value just over the same symbolic milestone that Apple hit less than one month ago. The company's stock has surged more than 70 percent since January, outperforming Apple, which has gained more than 30 percent.

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