Amazon has followed suit with Apple to reach the $1 trillion dollar stock market value on Tuesday, September 4, 2018. Reuters reports that the company’s stocks reached a value of $2050.2677 per share to reach the milestone, making the company the second American corporation to reach the $1 trillion total value.
This was only five days after the companies shares reached $2,000 per stock on August 30th, and only 10 months since the value of Amazon stocks reached the $1,000 dollar value per share on in May 2017. On it’s current trend, Amazon will eventually surpass Apple’s value.
While Apple took 38 years to reach the $1 trillion dollar milestone, Amazon reached the landmark in only 21 years, with the company publicly trading in 1997 at $1.50 per share on a split-adjusted basis. The company began as an online book retailer in Chief Executive Jeff Bezo’s garage in 1994. Since then, Amazon has diversified into an all around retail center, with streaming video services and most recently the purchase of Whole Foods grocery.
This has made the company a much more dynamic business than its competitors, including the tech giant apple. Few companies can compete with Amazon’s diversity of services, which has led the company to major financial success. This has led to Amazon’s rapid growth in value.
