Amazon becomes world's second $1tn company

05 September, 2018, 12:09 | Author: Lora Ball
  • Is Amazon a monopoly

Amazon went public at $18 a share in 1997 - on Tuesday those shares hit $2,050, pushing the value of the whole company over $1trn.

The e-commerce giant saw shares rise to $2,050.50 just before noon, putting its valuation just about $100 billion behind Apple, which crossed the line a little over a month ago.

"This year marks the 20th anniversary of our first shareholder letter, and our core values and approach remain unchanged", Bezos said in his 2017 letter to shareholders in March of this year.

The Seattle-based company has secured their customers loyalty through smart devices like Alexa and the Prime membership - a service that offers free next day deliver as well as music and video streaming perks.

For fiscal 2017, Amazon and its 560,000 employees around the world reported total sales of $177.87 billion, netting it an adjusted profit of $6.15 per share, according to the company's annual report.

More news: Roxanne leaves Celebrity Big Brother house after 'punch'

On August 2, Apple became the first U.S. company to reach a total market capitalization of $1 trillion.

The firm is expected to account for roughly half of all online shopping sales in the United States this year - and almost 5 percent of the country's overall retail market, according to research firm eMarketer.

Amazon is the second United States company to hit that mark, driven by its continued dominance in the retail world and its highly profitable cloud services business. The company has more than 487.7 million outstanding shares, according to its most recent financial filing.

Amazon just became the second member of the trillion-dollar club.

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

Recommended:

  • Arbitrator sends Kaepernick's grievance against National Football League  to trial

    Arbitrator sends Kaepernick's grievance against National Football League to trial

    With the case going to trial, owners, coaches and other team personnel will likely be called to testify during the season. Former 49ers player Eric Reid, who joined the protests with Kaepernick, has also filed a grievance against the NFL.
    Pentagon cuts off financial aid to Pakistan

    Pentagon cuts off financial aid to Pakistan

    The issue of combatting terrorism is expected to be raised by Pompeo during his talks with Khan in Islamabad this week. Mattis chose not to, a USA official told Reuters .
    Khalil Mack Will Not Be Traded

    Khalil Mack Will Not Be Traded

    If there's one thing Pace has established in his brief time as Bears' GM it's he's not afraid to trade draft picks. Khalil Mack will be at Lambeau Field for Week 1, but he won't be wearing a green and gold uniform.
  • Ukrainian separatist leader killed in explosion

    Ukrainian separatist leader killed in explosion

    In February 2017 rebel commander Givi (real name Mikhail Tolstykh) was killed by a rocket that was sacked into his office. In November 2014, he was elected the first president of the Donetsk republic, facing no real opposition.
    Son doesn't have to attend military service

    Son doesn't have to attend military service

    Son didn't score in the final, but his influence was undeniable, rather unwittingly setting up Lee Seung-Woo's opener in the 93rd minute.
    Huawei Mate 20 Lite price, specifications, features, comparison

    Huawei Mate 20 Lite price, specifications, features, comparison

    In regards to connectivity, the 980 has the world's first modem supporting LTE Cat.21, which has a peak download speed of 1.4Gbps. That's a 46 percent improvement in graphics processing power and a 178 percent jump in power efficiency over last year's Kirin.
  • Roberto Firmino says teammate is to blame for Alisson mistake against Leicester

    Roberto Firmino says teammate is to blame for Alisson mistake against Leicester

    Klopp said , quoted by ESPN . "For Alisson to be a top No 1, he and the defence have to be on the same page". Watford have also exceeded expectations so far though they also enjoyed a great start last time around.
    Judge orders NJ couple to turn over money raised for homeless man

    Judge orders NJ couple to turn over money raised for homeless man

    During an appearance on United States television on Monday, D'Amico revealed there is well over $150,000 left of the donations. The story went viral, and they later appeared on shows like " Good Morning America " and were interviewed by the BBC .
    Dutch lawmaker cancels Prophet Muhammad's cartoon contest

    Dutch lawmaker cancels Prophet Muhammad's cartoon contest

    Taking cognizance of the matter, Prime Minister Imran Khan formed a four-member committee on Thursday to resolve the issue. Physical depictions of Allah or the prophet, even positive ones, are considered blasphemous under Islam and are forbidden.
  • Nadal battles, Del Potro dazzles in NY

    Nadal battles, Del Potro dazzles in NY

    Anderson faces Austria's Dominic Thiem on Sunday. "Two matches in a row, very tough ones", said Nadal on court after the win. While it was Thiem's first shot at a grand slam title, Nadal would come away with his 11th career French Open win.
    Myanmar judge sentences Reuters journalists to 7 years in prison

    Myanmar judge sentences Reuters journalists to 7 years in prison

    Reuters published the results of the journalists' investigation in February, after Wa Lone and Kyaw Soe Oo were already detained. The journalists have maintained their innocence, saying they were set up by the police.
    Statistically Speaking: Jays get little return in Donaldson deal

    Statistically Speaking: Jays get little return in Donaldson deal

    Donaldson ends his Blue Jays tenure with 116 home runs and a.281/.383/.548 batting line over four seasons. The Indians will come to Toronto for a four game series against the Blue Jays beginning September 6.


Popular

Brazilian court disqualifies Lula from presidential election
He also accused political opponents of convicting him without evidence in an attempt to take him out of the election. Da Silva, serving a 12-year-sentence for corruption and money laundering, is the front-runner despite being in jail.

'Good job Jeff': Trump blames Sessions as GOP lawmakers charged before midterms
The president apparently was referring to the current investigations into GOP Reps. The Hunter investigation began under Obama. Both have insisted they are innocent.

LGBT rights: Malaysia women caned for attempting to have lesbian sex
In a shocking incident, two lesbian women in Malaysia were caned after being caught attempting to have sex in a parked auto .

Iran FM says 'terrorists must be purged' from Syria's Idlib
Zarif said it was necessary to consult "with our Syrian friends" ahead of the September 7 summit, according to Fars. A statement from Assad's office said Iran and Syria "had similar views on the different issues" to be discussed.

Federer stunned by 55th-ranked Millman in US Open 4th Round
But Keys struck once more with a flurry of winners at 3-3, overpowering Cibulkova in that game to reclaim her break advantage. A 29-year-old Aussie battler ranked 55th in the world has pulled off one of the greatest upsets in US Open history.

Nick Kyrgios can learn a valuable lesson from Roger Federer
Federer then bested the tricky Benoit Paire 7-5 6-4 6-4, in a performance that was more workman-like than it was clinical. But the tide quickly turned in Federer's favour when Kyrgios could not convert any of four break chances at 3-3 in first.

Rangers beaten by Celtic in Gerrard's first Old Firm derby
For Rangers , though, it was the first defeat under Gerrard and one which left their manager very unhappy. Celtic moves up to second in the table, three points behind Hearts, which has won all four of its games.

Tropical Storm Norman forecast to reach hurricane strength today
In Hawaii after the arrival of hurricane lane set a new record for the number of showers in the United States. Tropical Storm Norman strengthened somewhat overnight and is forecast to turn out to be a typhoon this day.

Former spy said Russia had 'Trump over a barrel'
The president who has denied any collusion between his campaign and Moscow, continued his attack on Ohr this week. Ohr first began discussing Deripaska during a November 21, 2014 meeting in Washington, DC.

California Net Neutrality Bill Heads to Governor’s Desk
Almost three dozen states have introduced bills to replace the defunct regulations, and three states have already approved them. The Republican-led Federal Communications Commission voted to overturn Obama-era net neutrality protections earlier this year.