Amazon becomes the second company to hit a $1 trillion valuation

WEB Economy Sep 4 2018 449 PM EDT

Amazon's stock on Tuesday topped the $1 trillion mark, becoming the second U.S. company to reach the milestone after Apple.

The company's shares rose by 1.9% to $2,050.27 in late trading, giving it a market capitalization of $1.003 trillion. Apple reached the $1 trillion mark in early August, and is now worth about $1.12 trillion.

Amazon's rise to $1 trillion has been fueled by its dominance in e-commerce, as well as its growing cloud computing and advertising businesses. The company has also been expanding into new areas, such as healthcare and grocery delivery.

Analysts say that Amazon's stock is likely to continue to rise in the coming years, as the company continues to grow its businesses. Some analysts have predicted that Amazon could reach a market capitalization of $2 trillion by 2022.

Conclusion

Amazon's rise to $1 trillion is a testament to the company's dominance in e-commerce and its ability to innovate. The company is likely to continue to grow in the coming years, and could become one of the most valuable companies in the world.