Amazon come after Apple as a 2nd company to hit $1 trillion in market value
By evincepanel - September 5, 2018 535 Views
The e-commerce giant Amazon became the second U.S. public company to reach $1 trillion market capital following Apple’s surge in early August. It rose as high as $2050. 50 on Tuesday morning, based on 487,741,189 shares in the market. Amazon is only one who joins trillion leagues with Apple showing how much consumer loves this platform.
Amazon showed dominating performance in the retail sector and highly profitable cloud service business in recent years. According to Yahoo Finance, Amazon didn’t stand too long as the company traded recently at $2039. 51 with 0.6 percent below from the previous trading session which is below the $1 trillion-dollar mark. According to the NYT (New York Times), Amazon’s founder and chief executive net worth is nearly as much as Bill Gates and Warren E. Buffett when combined together.
In Early August, Apple became the first trillion-dollar company with a share value of $207.05 per share. It was the one and only company in the US to accomplish this mark, and the second public company to reach the trillion-dollar mark in the world. The reason behind this is simple and we all know; it makes devices in which people are willing to pay a lot to get one.
PetroChina, a Chinese oil and gas company was the first to reach $1 trillion marks on Shanghai Stock Exchange in the year 2007 and now on Tuesday Amazon’s market capital hovered around with $1.1 trillion.
Amazons capture 49 percent of every e-commerce dollar in the United States and employing over 550,000 peoples which helps to generate annual revenue of $178 billion. Amazon is the only e-commerce giant, which sells everything from cloud computing space for clothing, books, gadgets or even taking appointments with plumbers.
The reason behind the success is that it always sold the most- to the customer, investor or the news media is excitement. In the beginning, Amazon came up with the exciting new way to shop books online, then upgrading itself with reading books online with (Kindle e-books), then after powering the internet with (Amazon Web services), and now with making deliveries for next-Gen with Amazon prime and Alexa to make your house a high-tech outpost.
In recent months, Amazon has acquired the supermarket chain Whole Foods Market, which has around 470 traditional locations, and the online pharmacy chain PillPack. It has enabled logistics controllers to deliver to customers at their home and in their car, Amazon joined hands with FedEx Corp and United Parcel Service Inc. to make delivery complete in one day.
Amazon is also looking for a second headquarter known as HQ2. It will create up to 50,000 jobs and invest more than $ 5 billion in nearly two decades. The research, which was started a year ago, has now been reduced to 20 finalists and a decision is expected to reveal soon in the upcoming weeks.
It took Amazon just 165 trading days to grow its market value from $600 billion in January to $1 trillion. Jeff Bezos told “we have no secrets we get this success because we keep prices low and stay intensely focused on our customers.