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.

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Jules Wang
Jules Wang is News Editor for Pocketnow and one of the hosts of the Pocketnow Weekly Podcast. He came onto the team in 2014 as an intern editing and producing videos and the podcast while he was studying journalism at Emerson College. He graduated the year after and entered into his current position at Pocketnow, full-time.