Last month, Apple was announced as the first company to reach a $1 trillion valuation as a publicly traded company. Not holding the title for long, Amazon has too reached this achievement after stocks rose this week.
Reported by Deadline, shares have risen more than one percent over the last 24 hours to $2,038 USD, “just shy of the $2,050 level that conferred the $1 trillion valuation.” Not exactly a surprising feat for the company, the Amazon stock has doubled in price in the last 12 months, smashing the $2,000 mark at the end of August. In comparison, the company’s stock broke $100 in October of 2009 and reached $1,000 in October of 2017.
The reason for Amazon’s success in 2018 comes down to not only its move into groceries and pharmaceuticals, but its rise in prime-time advertising. Commercials have begun surfacing during America’s Thursday Night NFL season as well as ads on popular gaming streaming services like Twitch.
Both Amazon and Apple are now $1 trillion companies, with Google parent company Alphabet and Microsoft not far behind.