Amazon joins $1 trillion club, on pace to overtake Apple

Amazon becomes world's second $1tn company

Apple took nearly 38 years as a public company to achieve the trillion dollar milestone, while Amazon got there in 21 years.

Founded in 1994, Amazon is now the world's largest online retailer.

The e-commerce giant saw shares rise to $2,050.50 just before noon, putting its valuation just about $100 billion behind Apple, which crossed the line a little over a month ago. 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.

Like most tech billionaires, Jeff Bezos's net worth rises and falls based on his company's performance in the stock market. "Amazon's cloud business is an extra growth driver that Apple doesn't have", said Daniel Morgan, portfolio manager at Synovus Trust in Atlanta who describes Amazon's cloud services as its "crown jewel". In the second quarter, AWS booked $6.1 billion in sales (up 49%), and generated an operating income of $1.64 billion (up 79%).

E-commerce company Amazon on Tuesday became the second American company to cross United States dollars 1 trillion in value.

Zverev sails into third round at US Open after beating Nicolas Mahut
Kyrgios wants to move on to and a match-up with arguably the game's greatest player is the flawless opportunity to refocus. Seeking some sort of physical treatment, Kyrgios said: "Okay, "Just call the trainer to the court and I'll try".

Amazon's share prices slightly receded after hitting the milestone, trading for $2036.95 at the time of writing. That milestone, just a month after it reached a $900 billion valuation threshold.

The company's stock gained 2 percent on Tuesday, hitting $2,050.27 per share.

Amazon now trades up 74.0 per cent for the year to date.

The firm is expected to account for roughly half of all online shopping sales in the U.S. this year - and almost 5 percent of the country's overall retail market, according to research firm eMarketer.

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