Amazon is now the second publicly traded U.S company to hit $1 trillion valuation.
On Tuesday, Amazon became the second USA company to reach a market value of $1 trillion.
The company's stock, as reported by CNBC, cruised past $2,050.27 per share, which was the bare minimum valuation Amazon needed to achieve a $1 trillion market cap. 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.
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The e-commerce giant's stock rose to a high of $2,050.50 on Tuesday morning.
It surged past the trillion dollar mark this afternoon, prompting experts so say it could become even bigger than Apple. The giant online retailer and Web services company has been consistently profitable since 2015. And its cloud computing services for companies have become its main profit driver.
Amazon must also guard against the kind of arrogance that can undo companies that come to dominate markets, according to the analyst.
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Amazon's share prices slightly receded after hitting the milestone, trading for $2036.95 at the time of writing.
The firm is expected to account for roughly half of all online shopping sales in the United States this year - and almost 5 percent of the country's overall retail market, according to research firm eMarketer. In comparison, Apple has risen about34.7 per cent year to date.
"This year marks the 20th anniversary of our first shareholder letter, and our core values and approach remain unchanged", Bezos said in his 2017 letter to shareholders in March.
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