Amazon becomes world's second $1tn company

Amazon becomes world's second $1tn company

The e-commerce juggernaut hit the 13-digit milestone Tuesday morning when its stock briefly surged to $2,050.50, passing the $2,050.27 mark to win a $1 trillion market capitalization. Apple became the first $1 trillion company last month.

Apple reached the same milestone in early August. Google's parent company Alphabet is still the third-largest by market capitalization, but it's not likely to break a trillion in the near future; its total valuation is now about $838 billion.

The founder and chief executive also avoided scandals or other distractions, keeping revenue and costs close enough to manage and easing into "adjacent markets" that play into Amazon strengths or interests, according to Enderle. For added reference, the company's stock reached $1,000 in October of 2017, and broke $100 in October of 2009. "Now that it has several high-margin revenue streams, we're seeing those doubts subside".

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The tech and retail behemoth, founded as an online bookstore by CEO Jeff Bezos in 1994, has only been consistently profitable since 2015.

Here's the breakdown of how Morgan Stanley - one of the stock's most bullish sell-side shops - sees Amazon's five main units in terms of value. The company's valuation has been teasing around the $1 trillion for a little while now, though all of that wait finally finished once the share price hit $2050.50.

"This year marks the 20th anniversary of our first shareholder letter, and our core values and approach remain unchanged", Bezos said in his 2017 letter to shareholders in March of this year. "We know there is much we can do better, and we find tremendous energy in the many challenges and opportunities that lie ahead".

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