If the online retailer's shares keep up their recent pace, it would be a matter of when, not if, Amazon's stock market valuation eclipses that of iPhone maker Apple, which reached $1 trillion on August 2.
Inc on Tuesday joined Apple Inc in the $1 trillion club, becoming the second member of the group after its stock price doubled in 15 months.
A major contributor to the company's massive profits has been its cloud business, Amazon Web Services (AWS).
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Debt from China's interest-free loans, due by the end of 2018, would be written off for some poor African states, Mr Xi said. More than 180 major Chinese enterprises and thousands of small and medium enterprises have been established in the country.
"Amazon's a little bit more dynamic than Apple because the iPhone has become more mature". In the second quarter, AWS booked $6.1 billion in sales (up 49%), and generated an operating income of $1.64 billion (up 79%).
Such astronomical growth from a small, Seattle book seller to one of the world's biggest companies, has made its founder and chief executive, Jeff Bezos, easily the richest person in the world. Amazon shares first hit $1,000 on October 27, 2017. It has held above that level since October 27, 2017.
Amazon briefly joined the $1 trillion club Tuesday, becoming the second USA company to reach the milestone market cap in as many months. Though it was a briefly-held position, given the erratic nature of the stock market, it was an exciting milestone nonetheless.
Amazon now trades up 74.0 per cent for the year to date. Bezos's fortune was measured at just under $100 billion at the start of 2018, so he is theoretically up more than $66 billion in unrealized gains so far this year.