Amazon Becomes Second Company To Hit $1 Trillion After Apple

Amazon is now a $1 trillion company

Modal Trigger Jeff Bezos Getty Images

Most notable was the speed with which Amazon hit the milestone, with its shares having more than tripled in the past three years. Market watchers have been expecting both Amazon and Apple to eventually have valuations topping $1 trillion.

Amazon touched a market value of $1 trillion Tuesday, becoming just the second publicly traded company to reach the milestone.

The e-commerce giant's stock rose to a high of $2,050.50 on Tuesday morning.

Even more telling is Amazon's size when compared to the entire national stock markets of other countries.

Amazon follows Apple, which reached the mark earlier this year.

Amazon's shares are up 75 percent from the beginning of the year.

If the online retailer's share gains keep up the 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.

Amazon has also formed partnerships with many old-line retailers, selling the Kenmore washing machines traditionally found at Sears and opening stations inside Kohl's stores where people can bring returns and look at Amazon devices.

Amazon - founded as an online book-retailer in Chief Executive Jeff Bezos' garage in 1994 - started trading on May 15 1997 at $1.50 on a split-adjusted basis. The riches have largely come through his ownership of 16.3% of Amazon's outstanding stock.

"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.

'The company continues to experiment with new products and push into new geographies.

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