Amazon temporarily became a $1 trillion company

Polycount

TS Evangelist
Staff member

The tech industry has been growing at a seemingly-exponential rate over the past few years, and several companies have begun to emerge as near-monopolists due to the superior quality of their services.

Google dominates the online search space, Amazon is the king of online shopping, and Uber and Lyft have all but taken over the taxi and ride-sharing industries.

This growth was made clear when Apple managed to become the first US-based trillion-dollar company earlier this year. Though it was a briefly-held position, given the erratic nature of the stock market, it was an exciting milestone nonetheless.

Now, Amazon has followed in Apple's footsteps - the online retail giant successfully snagged the trillion-dollar company title for itself today, albeit temporarily.

The company's stock, as reported by CNBC, cruised past $2,050.27 per share, which was the bare minimum valuation Amazon needed to achieve a $1 trillion market cap.

Interestingly, as The Verge points out, Amazon is only the third company internationally to hit a $1 trillion market cap. Apple was the second, and PetroChina reportedly reached that goal for a time way back in 2007.

Of course, this news is unlikely to have any significant impact on Amazon as a company or the market at large. However, it'll be an interesting milestone to look back on as the tech industry expands in the future.

Permalink to story.

 
Last edited by a moderator:

Evernessince

地獄らしい人間動物園
US Corporate Tax receipts so far this year are down 33% while personal tax receipts, specifically for the middle class, are up 8%.

Rich <--- Poor

Nice reverse Robin hood effect we've got going on here.
 
  • Like
Reactions: Reehahs

Theinsanegamer

TS Evangelist
The only way companies like amazon get away with this is not paying taxes. Hundreds of billions of that net worth should have been paid as property taxes over the years that amazon gets away wit not paying one way or another.
 

Hammayon

TS Booster
US Corporate Tax receipts so far this year are down 33% while personal tax receipts, specifically for the middle class, are up 8%.

Rich <--- Poor

Nice reverse Robin hood effect we've got going on here.
The rich are trying to get richer by stealing wealth from the middle and lower class.
THey want the world to be poor while the select few become filthy rich.

Deluded Godless fools.

Hey it's capitalism at it's best
no free health care

trillions on military
US creates the conflicts in the world then lies to the world about it
Just so it can feed it's military industrial complex that is the heart backbone of the US economic system.

Trillions every year.

Wake up American's

Don't elect billionaires as president

Elect someoene who wants to put money into your hands and not his corporations that line his pocket

Americans with no education.

Sad.
 
  • Like
Reactions: Dimitrios

cliffordcooley

TS Redneck
Don't elect billionaires as president

Elect someone who wants to put money into your hands and not his corporations that line his pocket
And you think electing a non-billiionaire is the answer. Seriously have you not paid attention to all the presidents before Trump? Electing Trump didn't cause this problem, yet you want to put it off on him. What a Joke!