Amazon Hits $1 Trillion Valuation

Is Amazon a monopoly

Amazon has become the second publicly traded company to be worth US$1 trillion (NZ$1.52 trillion), hot on the heels of Apple.

The e-commerce giant's stock rose to a high of $2,050.50 on Tuesday morning.

The company's market cap hit $1 trillion just a few moments ago after its share price hit $2050.50. Amazon shares hit $2,050.49 shortly before noon on Tuesday, bringing the company's value above $1 trillion before declining slightly. 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.

Majerhat Flyover Collapses in Kolkata, Rescue Operations Underway
The report added that five cars and a mini bus are trapped underneath piles of debris from the collpaed section of the bridge . My thoughts are with the families of the victims. "I pray that those who are injured recover at the earliest".

Amazon has briefly become the second US-listed firm to have a market value of more than $1 trillion (£779bn). The tech juggernaut isn't alone anymore, however, as Amazon has reached $1 trillion valuation. "Amazon's cloud business is an extra growth driver that Apple doesn't have", said Daniel Morgan, portfolio manager at Synovus Trust in Atlanta, Georgia who describes Amazon's cloud services as its "crown jewel".

Apple started trading in December 1980 but its stock did not truly start to take flight for another 25 years, spurred by the iPhone, the breakthrough device that left competitors in the dust.

For the fiscal year 2017, Amazon and its 560,000 employees around the world reported total sales of $177.87 billion, netting it an adjusted profit of $6.15 per share, according to the company's annual report. It has held above that level since October 27, 2017. Amazon's stock is up almost 70 percent this year as US tech stocks continue to reach record highs. In comparison, Apple has risen about 35.0percent in 2018. Amazon had $178 billion in revenues previous year and made $2 billion in profit in its most recent quarter.

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