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Amazon Becomes Second US Company to Hit $1Trln Valuation Mark
Amazon Becomes Second US Company to Hit $1Trln Valuation Mark
Sputnik International
WASHINGTON (Sputnik) - US e-commerce giant Amazon.com’s valuation reached the trillion-dollar mark on Tuesday after shares rose by two percent on the NASDAQ... 04.09.2018, Sputnik International
2018-09-04T18:47+0000
2018-09-04T18:47+0000
2022-08-06T12:15+0000
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newsfeed, us, bill gates, jeff bezos, forbes, amazon
Amazon Becomes Second US Company to Hit $1Trln Valuation Mark
18:47 GMT 04.09.2018 (Updated: 12:15 GMT 06.08.2022) WASHINGTON (Sputnik) - US e-commerce giant Amazon.com’s valuation reached the trillion-dollar mark on Tuesday after shares rose by two percent on the NASDAQ stock exchange.
Amazon is the second publicly-traded US company to reach the historic threshold in market capitalization (market cap) after Apple surpassed $1 trillion in early August. Analysts say the e-commerce giant’s diversifying portfolio has been a value driver.
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"They have given investors’ confidence that they can go and disrupt markets just like they've done with retail," partner at venture capital firm Loup Ventures Gene Munster told CNBC.
In addition to online shopping and delivery services, last year Amazon stepped into the grocery industry with the purchase of Whole Foods Markets.
In July, reports stated that Chief Executive Director of Internet retailer Amazon, Jeff Bezos, became the world's richest businessman outpacing Bill Gates. In addition, Bezos is among the top 5 most influential people on the planet according to the ranking published by Forbes in May 2018.
