Amazon.com Inc. has followed Apple Inc. to become the second U.S. company to reach $1 trillion in market value, reflecting the online retailer’s striking transformation from a profitless bookseller into a disruptive force of commerce.

Shares of Amazon climbed 1.9% in midday trading on Tuesday, topping the $2,050.27 needed to push the company’s value above $1 trillion. The stock has surged 75% in 2018 and added more than $435 billion to the company’s market capitalization—roughly the size of Walmart Inc., Costco Wholesale Corp. COST +0.34% and Target Corp. TGT 0.82% combined.

Investors have rewarded the Seattle-based company as it demonstrated better financial discipline in recent quarters, reporting record profits because of lucrative businesses such as cloud computing despite aggressively spending on industries from health care to grocery delivery.


“They’ve proven they can make it work,” said Michael Lippert, who manages the Baron Capital BCAP -98.00% Opportunity Fund that counts Amazon as its largest holding. “They’re spending a lot on all these things to build and enforce their competitive advantages.”

Amazon and Apple, which hit the trillion-dollar milestone on Aug. 2, symbolize the growing influence of tech companies on markets and the economy. The industry is amassing wealth and power, creating a new order in business where the most valuable resource is no longer oil, but data.

Not far behind in market value are Google owner Alphabet Inc. and Microsoft Corp. , both approaching $900 billion, while Facebook Inc. which crossed $500 billion in July 2017, a day after Amazon—has stalled at those levels amid a data-privacy scandal and growth concerns.

The companies’ increasing clout has prompted lawmakers to scrutinize the tech sector more closely. Amazon, which captures nearly half of all U.S. dollars spent online, is simultaneously drawing the ire of President Trump over its effect on traditional retail and its use of the U.S. Postal Service. Sen. Bernie Sanders has also criticized the company for the way it pays and treats its warehouse workers, something Amazon has said is an inaccurate portrayal.

Investors also worry about the tech companies’ outsize impact on the stock market. Amazon, Apple and Microsoft have accounted for more than 35% of the S&P 500’s total return this year, according to S&P Dow Jones Indices data through Aug. 28.

One of the biggest beneficiaries of Amazon’s growth is its 54-year-old leader, Jeff Bezos, who has surpassed Bill Gates to become the richest man in the world, according to multiple indices that track the world’s wealthiest people. Mr. Bezos owned roughly 16% of Amazon, as of an August regulatory filing, and is worth about $166 billion, according to the Bloomberg Billionaires Index.

Amazon has expanded rapidly since its humble founding as an online bookstore in Mr. Bezos’s garage in 1994. The internet then was just becoming a viable platform, and the most valuable companies at the time included industrial conglomerate General Electric Co. , oil giant Exxon Inc. and telecommunications power AT&T Inc.Amazon was valued at less than $500 million when it went public in 1997. A $1,000 investment in the IPO would be worth roughly $1.4 million today, adjusted for stock splits.

http://www.akelicious.net/2018/09/like-apple-amazon-hits-1-trillion.html

Those companies have created many billionaires

Damn ...My company is next God !!!!!

The most important statement in this article for any Nigerian is this:
"The industry is amassing wealth and power, creating a new order in business where the most valuable resource is NO LONGER OIL, BUT DATA"
At a time in human history, agriculture was the major player for export, then the US had their cotton fields, plantations and all.
Then the world moved on to industrialization, the steel Era, then came the oil boom.
Then the world moved on to Technology
Now we have the data and IT age.
In all of this where is Nigeria? Nigeria is still talking about Agriculture.

Good stuff

A single company can buy Nigeria, the whole 200million of them.

I'm sorry, we all need to be sold into slavery the second time.

Cool!

Trillionaire club

martyns303:
The most important statement in this article for any Nigerian is this:
"The industry is amassing wealth and power, creating a new order in business where the most valuable resource is NO LONGER OIL, BUT DATA"
At a time in human history, agriculture was the major player for export, then the US had their cotton fields, plantations and all.
Then the world moved on to industrialization, the steel Era, then came the oil boom.
Then the world moved on to Technology
Now we have the data and IT age.
In all of this where is Nigeria? Nigeria is still talking about Agriculture.

Bros, Shey na data and IT human beings go chop? Mr Man Agriculture can never go out of fashion cos humans must feed basically.

JEWS are the wealthiest and most powerful people on this face of this earth. They run virtually everything from banking to Wall Street, Technology and Silicon Valley, Commerce, Pharmaceuticals, Real Estate, Shipping, Healthcare, Hollywood, Aerospace and Defense and many more. From Google to Facebook, to Twitter to Amazon to Instagram, Snapchat, to Ebay, to World Bank, to IMF to Goldman Sachs, Blackstone, Riverstone, to Largest medical centers, top Hollywood producers, the list goes on. THANK YOU JEWS FOR HELPING HUMANITY. Just as you control the world, Igbos will control Africa. THANK YOU JEFF BEZOS! If you hate Jews and Igbos( mean Hebrews, has been changed over the years from Hebrews to Igbos to Ibos) you are derailing your destiny and you will die prematurely!

Amazon are really doing so well.

martyns303:
The most important statement in this article for any Nigerian is this:
"The industry is amassing wealth and power, creating a new order in business where the most valuable resource is NO LONGER OIL, BUT DATA"
At a time in human history, agriculture was the major player for export, then the US had their cotton fields, plantations and all.
Then the world moved on to industrialization, the steel Era, then came the oil boom.
Then the world moved on to Technology
Now we have the data and IT age.
In all of this where is Nigeria? Nigeria is still talking about Agriculture.

no they are talking about embezzling paper money

Sannisege:
Bros, Shey na data and IT human beings go chop? Mr Man Agriculture can never go out of fashion cos humans must feed basically.

Na data and IT dem dey chop for Amazon?

Hmm thats Nigeria's National Budget for 50 Years. Blood of odinga

As you can see there is something more than crude oil!

Sannisege:
Bros, Shey na data and IT human beings go chop? Mr Man Agriculture can never go out of fashion cos humans must feed basically.

Bro we had a paradigm shift. It's all about trend.

IT wasnt available when agriculture was reigning.

Sannisege:
Bros, Shey na data and IT human beings go chop? Mr Man Agriculture can never go out of fashion cos humans must feed basically.

we can use IT to enhance agriculture

obaataaokpaewu:
Na data and IT dem dey chop for Amazon?

can they go to work on empty stomach? Kuku tell dem to start fasting

martyns303:
The most important statement in this article for any Nigerian is this:
"The industry is amassing wealth and power, creating a new order in business where the most valuable resource is NO LONGER OIL, BUT DATA"
At a time in human history, agriculture was the major player for export, then the US had their cotton fields, plantations and all.
Then the world moved on to industrialization, the steel Era, then came the oil boom.
Then the world moved on to Technology
Now we have the data and IT age.
In all of this where is Nigeria? Nigeria is still talking about Agriculture.

don't you eat? stop castigating Agriculture, alot of people are making million from it,even dat data you mention not everybody DAT need it, but everybody need agriculture, i am a certified Computer scientist and I will tell you if all of us venture into this data and iT wetin we go chop?

martyns303:
The most important statement in this article for any Nigerian is this:
"The industry is amassing wealth and power, creating a new order in business where the most valuable resource is NO LONGER OIL, BUT DATA"
At a time in human history, agriculture was the major player for export, then the US had their cotton fields, plantations and all.
Then the world moved on to industrialization, the steel Era, then came the oil boom.
Then the world moved on to Technology
Now we have the data and IT age.
In all of this where is Nigeria? Nigeria is still talking about Agriculture.

Both India and China have indicated that by the year 2040 they intend to fully eradicate the use of fossil fuels and other hydrocarbons in favour of cleaner and more environmentally friendly forms of energy.
One day (and it's going to be very soon) the oil age will end, in the same way that the abundance of stones could not stop the stone age from ending.
But Nigeria's stupid leaders never learn from history. They keep making us pay for their idiotic mistakes.

Veetee:

we can use IT to enhance agriculture

Sure but Agriculture is equally important.

Alabitrends:


Bro we had a paradigm shift. It's all about trend.

IT wasnt available when agriculture was reigning.

Kuku tell the Nigerian Government not to invest in Agriculture and focus on IT. Make people dey chop, drink and wear IT dey go

Na so we go soon hit 100bn. [I have a dream]

Alabitrends:


Bro we had a paradigm shift. It's all about trend.

IT wasnt available when agriculture was reigning.

So now that IT is reigning we should kukuma relegate agriculture to the background. Na wa for Naija youths.

GodIsFoolish:
PEOPLE RICHER THAN SOME COUNTRY,

MORE THAN 50 AFRICAN LEADERS WENT TO BORROW 60 BILLION DOLLAR, MEAN WHILE BILL GATE ALON HAVE WORKED OUT MORE THAN THAT MONEY. AFRICANS ARE DOOM

if dey call something networth dey don't mean DAT you have DAT money in your account, but the value of everything you have including your house and cars and for your point of correction in some African countries are richer than many American nations

biafranation:
JEWS are the wealthiest and most powerful people on this face of this earth. They run virtually everything from banking to Wall Street, Technology and Silicon Valley, Commerce, Pharmaceuticals, Real Estate, Shipping, Healthcare, Hollywood, Aerospace and Defense and many more. From Google to Facebook, to Twitter to Amazon to Instagram, Snapchat, to Ebay, to World Bank, to IMF to Goldman Sachs, Blackstone, Riverstone, to Largest medical centers, top Hollywood producers, the list goes on. THANK YOU JEWS FOR HELPING HUMANITY. Just as you control the world, Igbos will control Africa. THANK YOU JEFF BEZOS! If you hate Jews and Igbos( mean Hebrews) you are derailing your destiny and you will die prematurely!

Wow, Really? I didn't know Zuckerberg is a Jew.

Sannisege:
Sure but Agriculture is equally important.

Extremely important

BestDude:
can they go to work on empty stomach? Kuku tell dem to start fasting

Paradigm shift! That the world is now about IT and data doesn't mean that people are not still into Agriculture. US even make more from Agriculture compared to Nigeria

America is really funny

All in the bid to be bigger than China... Apple that sale less than 120 million phones and laptop ( that Samsung even make more profit then them) is bigger more than twice than Samsung

Amazon that service less than 400 million people is bigger than alliexperess that service billions

This are just shares manipulation and over blown imaginary figure

It can never be converted to real money any attempt to sale off this shares would see the price drop blow 20% of its present value

Money can't be hidden

See money

obaataaokpaewu:
Na data and IT dem dey chop for Amazon?

help me ask am again oo