The US-based e-commerce giant has become the world’s second largest company to reach the $1 trillion mark. Apple was the first company to achieve this target. The total market value of the 24 years old company, Amazon, crossed the $1 trillion benchmark this Tuesday after a 1.9% increase in the company’s average share price. The 487,741,189 shares increased to a considerable value of $2050.50 and crossed the threshold value of $2050.27 per share.
After a solid day at the stock market, the shares slid down at the closing of the day and reached $2039.51 of value per share and left Amazon with a value of $995 billion. $5 billion short of the trillion dollar mark. Nearly 90% of the US-based shopping still happens in the physical store, but no other store can make such a value of money because of the diversified products portfolio which Amazon has.
The company acquired ‘Whole Food Markets,’ a brick-and-mortar grocery stores network last year. The company also did reasonably good with its cloud services Amazon Web Services as well. There are more than 500,000 individuals working there and generating more than $150 billion in revenue. The company is also behind the Kindle-branded-e-books readers and also provides voice assistant Alexa to its users.