Amazon touches trillion-dollar valuation milestone
Amazon achieved a market capitalization of $1 trillion this morning.
The retailer opened the first trading day of the holiday-shortened week at $2,026.50. By midday, Reuters reports that AMZN had surged to the magic mark shy of $2,050.27 for the trillion-dollar valuation. As of 12:30pm, shares were trading at around $2,030.
Shares of the Seattle-based corporation had only surpassed the $2,000 share price milestone on August 30, doubling its position from October 27, 2017. The company has been taking on a vast expansion of its consumer and enterprise offerings from consumer online sales to organic groceries to artificial intelligence services and web infrastructure services.
Apple was the first US company to reach a $1 trillion value on August 2.