Amazon market value tops $1tn

Jeff Bezos CEO and founder of Amazon is illuminated by a display screen at the introduction of the new Amazon Kindle Fire HD and Kindle Paperwhite in Santa Monica Calif. On Tuesday Sept. 4 2018 Amazon became

In just two decades, the company expanded far beyond its bookseller beginnings - they've managed to combine a world-wide retail operation with a less showy, but clearly, incredibly profitable advertising and cloud software businesses.

Bezos became the world's richest man in the process, with a net worth estimated at more than $140bn.

Amazon's stock value briefly topped $1 trillion on Tuesday, a little over a month after Apple crossed the same milestone.

Amazon's stock rose 1.7 per cent in morning trading, putting its market value at just over $1 trillion, although the stock dropped back slightly after that.

The milestone comes one month after Apple first passed the $1 trillion threshold on August 2.

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It's official: Amazon is the second USA company to achieve a valuation of more than $1 trillion. It needed to reach $2,050.27 to cross the trillion-dollar threshold, based on the count of 487,741,189 shares from Amazon's most recent quarterly report in July.

Inc on September 4 joined Apple Inc in the $1 trillion club, becoming the second member of the group after its stock price doubled in 15 months. Most notable was the speed with which Amazon hit the milestone, with its shares having more than tripled in the past three years.

Ben Barringer, an equity research analyst at Quilter Cheviot, said Amazon still has a long to way go, which means it could end up bigger then Apple.

Here's the breakdown of how Morgan Stanley - one of the stock's most bullish sell-side shops - sees Amazon's five main units in terms of value.

"The company continues to experiment with new products and push into new geographies".

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