September 5, 2018, Amazon.com Inc briefly touched $1 trillion in market value to become the second listed public company in the U.S. after Apple Inc. on August 2, 2018 to reach this high.
Apple took almost 38 years to achieve this milestone, while Amazon only took 21 years. If the online retailer’s shares keep up their recent pace, it would be just a matter of when will Amazon overtake the iPhone maker, Apple.
While a smartphone is essential in everyday life, they seem to be unable to keep up with the fast pace the online retailer, Amazon that constantly adds abundant of items everyday with more new services to come, not to mention the video streaming services that Amazon is trying to go beyond Netflix.
Amazon first established as as an online book-retailer in Chief Executive Jeff Bezos’ garage in 1994, and the company started trading on May 15, 1997 at $1.50 on a split-adjusted basis.
By October 2009 it had risen to $100 and the stock hit $1,000 for the first time on May 30, 2017. It has held above that level since Oct. 27, 2017. In 2018, Amazon’s blistering sales growth pushed its shares to hit $2,000 on August 30, and then achieved the $1 trillion market value milestone on September 5.