According to reports, Amazon has become the second US company after Apple to hit the market cap of $1 trillion in value on Tuesday. It is said that shares of the e-commerce company rose nearly 2 percent to a high of $2,050.50 in morning trading. “The stock needed a price of $2,050.27 to reach the $1 trillion mark, based on an outstanding share count of 487,741,189 shares — according to the company’s most recent quarterly report in July.”
Following a report in early August that Apple has reached $1 trillion in value, it took Amazon just five weeks to match this great achievement.
“Amazon stock has gained more than 70 percent in 2018 and has more than doubled in the last 12 months. That dwarfs gains by the overall market, with the S&P 500 index gaining 8 percent this year and 16 percent in the last 12 months.”
Source: CNBC NEWS