Amazon joins Apple in the one trillion dollar club

Amazon joins Apple in the one trillion dollar club
On August 2nd, Apple became the first public company in the U.S. valued at $1 trillion dollars. Today, a little more than a month later, Amazon also joined the club. The company became worth one trillion dollars when the stock hit $2,050.27 earlier today. 2018 has been an incredible year for investors in Amazon, with its shares up 75% since January when it was valued at $565 billion. In the process, the surge has made company founder and CEO Jeff Bezos the richest man in the world with a net worth of $166 billion.

Originally conceived as an online bookseller, in 2011 Amazon released its own line of tablets that employ a forked version of Android without Google Play Services. The company tried to break into the smartphone business with the release of the Amazon Fire Phone during the summer of 2014, but the device did not find any traction among consumers.

But Amazon captured the consumer tech spotlight in a big way with the 2015 launch of the Amazon Echo. The device created the smart speaker category that is growing by leaps and bounds. More importantly for Amazon, the device introduced its Alexa virtual personal assistant to the world. Currently considered among the top two digital helpers (along with Google Assistant), Alexa can stream music; turn on/off smart appliances; order a ride for a pizza; set an alarm or timer; reveal the latest news, sports scores, stock prices and weather; play games and a whole lot more.

Thanks to investors' current appetite for Amazon's shares, $1,000 invested in the company during its IPO in 1997 is now worth $1.4 million. At the time it went public, Amazon was valued at $500 million.

source: WSJ

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8 Comments

1. Phullofphil

Posts: 1820; Member since: Feb 10, 2009

Wow the stocks I should have bought.

2. cmdacos

Posts: 4253; Member since: Nov 01, 2016

That's a fast rise Amazon. Well done.

3. CreeDiddy

Posts: 2240; Member since: Nov 04, 2011

Congrats to Amazon!!!

4. babyk

Posts: 379; Member since: Nov 03, 2011

Amazon will be worth more than apple and will be the richest company in the world

6. Foxgabanna

Posts: 607; Member since: Sep 11, 2016

Maybe. But each are big in their own areas of specialty.

7. lyndon420

Posts: 6821; Member since: Jul 11, 2012

Amazon has been more valuable than any fruit company for quite some time now.

5. darkkjedii

Posts: 31274; Member since: Feb 05, 2011

Congrats Amazon, and Apple. They're both killing it, and both get money from me.

8. theunspoken

Posts: 310; Member since: Jul 06, 2017

You are just concentrating on alexa and kindle, they earn more from their AWS and other services too.

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