Amazon.com Inc briefly reached $1 trillion level

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Amazon.com Inc briefly reached $1 trillion level

September 05, 2018 - 11:45
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On Tuesday Amazon.com Inc briefly reached $1 trillion level and became second largest US publicly listed company, whose shares cost so much, Reuters reports.

Photo © Gerd Altmann, CC0 1.0

On Tuesday Amazon.com Inc briefly reached $1 trillion level and became second largest US publicly listed company, whose shares cost so much, Reuters reports.

Amazon’s shares more than doubled during a year and grew by 74,5%. Yesterday they reached level $2050,50 before closed at $2039,51.

If online retailer’s growth pace is the same, then market value of Amazon will exceed value of Apple Inc., which reached $1 trillion on August 2.

It shall be noted that Apple needed 38 years to reach this level, while it took just 21 years for Amazon.

Amazon impresses its investors diversifying in almost all sectors of retail industry. The company also provides video streaming services and cloud computing services for companies. The last ones were the main profit growth driver recently.

Analytics forecast Amazon’s revenue growth at 32% in 2018, while for Apple this number is 14,9%.