Amazon Hits $1 Trillion

George McgeeSep 05, 2018

Amazon has become the second publicly traded company to be worth $1 trillion, hot on the heels of iPhone maker Apple.

By early afternoon, Amazon's stock was trading at $2,030 per share, up less than 1 percent, putting its market cap at $990 billion.

According to Deadline, Amazon shares have risen more than one percent today to $2,038, "just shy of the $2,050 level that conferred the $1 trillion valuation".

Amazon has become the second company listed in the U.S. to achieve a market value of $1trn (£779.3bn). Bezos's fortune was measured at just under $100 billion at the start of 2018, so he is theoretically up more than $66 billion in unrealized gains so far this year.

Amazon shareholders have already had a extraordinarily good year.

Prescription medicine would be a natural market for Amazon to expand into, according to Enderle.

Amazon, founded by Jeff Bezos as an online bookseller in 1994, has grown rapidly into one of the country's largest and most influential companies. It's now a diversified global enterprise with more than $200 billion in annual sales and more than 575,000 employees.

The Seattle-based company has cemented customer loyalty through its Echo voice devices and the Prime membership programme that offers fast, free shipping as well as music and video streaming perks.

While his skills could be advantageous in the content-oriented business, getting into news comes with the risk of displeasing politicians. The tech juggernaut isn't alone anymore, however, as Amazon has reached $1 trillion valuation.

"The Post was a mistake because it results in him going to war with people he wouldn't otherwise go to war with", Enderle said.

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