Amazon has become America’s second $1 trillion company.
Amazon’s(AMZN) total market value passed $1 trillion on Tuesday, following Apple’s ascent into 13-digit territory at the beginning of August. Amazon and Apple now make up more than 8% of the entire value of the S&P 500, according to Howard Silverblatt, senior index analyst for S&P.
A trillion dollars may be an arbitrary threshold, but it’s still a remarkable statement of how quickly the 24-year-old company has grown, and the boundless confidence investors have in its future.
Just contrast Amazon with the brick and mortar sector, where 90% of American retail spending still takes place. In order to get to a $1 trillion market cap, you’d have to add up the valuations of the 14 largest big box retailers ranked by 2017 revenues, from Walmart (WMT) to Autonation (AN).
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BREAKING: Amazon has become America’s second trillion company. The company’s total market value passed $1,000,000,000,000 on Tuesday, following Apple’s ascent into 13-digit territory at the beginning of August. https://t.co/tZlrizcFg0 pic.twitter.com/fE4kTpZ9RW
— CNN (@CNN) September 4, 2018
Amazon deserves every penny.
Take that Trump.
Awaiting new attacks on Amazon from Trump any minute now. No wonder Bezos ignores Trump. Trump is like a single little flea on an elephant. To little to bother with.
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