Amazon Hits $1 Trillion Valuation

Amazon's effect on local economies

Amazon's effect on local economies

Amazon has become the second company listed in the United States to achieve a market value of $1trn (£779.3bn). Multiplied by the number of shares outstanding (487,741,189), that puts the company's book value just over the same symbolic milestone that Apple hit less than one month ago.

It crossed the line at 16:40 BST before falling back slightly.

Amazon and Apple are now worth more than the economies of countries such as Turkey and Switzerland.

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The National Weather Service said conditions were "possible" for tornadoes in the affected parts of South Florida on Monday night. Jake Wilson told WEAR-TV that the strong wind was bringing a lateral current "where it's just going to push you down the beach".

The tech juggernaut isn't alone anymore, however, as Amazon has reached $1 trillion valuation.

In the past quarter, Amazon posted its best-ever profit of US$2.5 billion as Bezos, whose stake in the company has made him the richest person, highlighted the importance of digital assistant Alexa that powers Amazon electronics along with cars, appliances and other connected devices.

Shares in the world's largest online retailer last traded up 1.4 percent at $2,041.68.

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Petrol prices were increased to Rs 86.72, Rs 82.22 and Rs 82.41 per litre in Mumbai, Kolkata and Chennai respectively on Tuesday. Diesel per litre is priced at Rs 71.34 in Delhi, Rs 74.19 in Kolkata, Rs 75.74 in Mumbai and Rs 75.39 in Chennai.

Amazon has briefly become the second US-listed firm to have a market value of more than $1 trillion (£779bn).

If the online retailer's shares keep up their recent 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. For added reference, the company's stock reached $1,000 in October of 2017, and broke $100 in October of 2009. At $2,050.27 its shares are up around 136,584% since its IPO.

'The difference between the two is that Amazon has room to grow within its two main businesses.

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Meanwhile, rainfall totals up to 150 mm are possible for southern Alabama, southern MS and Louisiana. The storm could come ashore in southeastern Louisiana late Tuesday or early Wednesday.

He added: "We continue to aspire to be Earth's most customer-centric company, and we recognize this to be no small or easy challenge".

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