Amazon has officially become the world's second trillion dollar publicly traded U.S. company, in terms of market cap, which is simply the company's number of outstanding shares multiplied by its stock price.
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Amazon shares briefly crossed the $2,050.27 mark in intraday trading today, giving the online retail giant a market cap of slightly over $1,000,000,000,000, based on its latest total of 487,741,189 outstanding shares. The milestone was fueled by a roughly one percent increase in Amazon's stock price today.
Apple beat Amazon in the race to a trillion dollar valuation when its stock price crossed $207.05 on August 2. After those two companies, tech rivals Microsoft and Google are closest in line, with market caps around $850 billion and $840 billion respectively as of mid-day trading on Tuesday.
Amazon shares have more than tripled in the past three years, as the company expands upon its dominant position in online and physical retail.
Amazon competes with Apple in a number of areas, with its digital assistant Alexa rivaling Siri and its Prime Music service rivaling Apple Music. Apple is also expected to launch a Netflix-like streaming video service next year, with dozens of original series, that competes with Amazon Prime Video.
Top Rated Comments
[Apple] generated a $48.35 billion profit during its fiscal 2017 and made $13.8 billion in net income during the March 2018 quarter, while Amazon's total net income since inception is about $9.6 billion.
Apple, made more profit in one quarter than Amazon has made...ever.
Apple without any splits would be worth over $10k per share. Which would still say absolutely nothing about the company, just a fun fact.
And no, things aren’t getting much better: in Europe they increased sales but also losses, for example.
AMZN is hugely overpriced, while Apple shares are still undervalued at just 20x PE not even considering the huge mountain of cash they are amassing.
That’s precisely why Buffett loaded on AAPL and doesn’t own a single AMZN share.
Amazon has much more diversity, and a stronger position. A portfolio of selling millions of types of products, the Sam Walton approach with a new delivery system.
Everything Apple has, and growth, is HUGELY dependent on one product, iPhone. Can continue to make them, or break them.
Whereas T Cook's happier to be the every man's superhero, fighting crime by night. All of his lines somehow shoehorn in his superhero name.
"Holy soldered RAM, Cookman!" squeaks Schillboy, Cook's trusty sidekick. "If we don't add another fan soon, that i9 might overheat!"
Cookman chuckles loudly: his resounding echo shakes the walls. "Oh Schillboy!" he says with a grin, shaking his head and patting him on the shoulder gently. "We'll just fix that with a firmware update! There'll be no... COOKED components tonight!"
Both laugh heartily as the frame freezes and the credits roll.