Amazon market value tops $1tn

Amazon,Amazon 1 trillion,Apple

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.

Muslim court canes Malaysian women for same-sex relationship
Authorities have said the police action was carried out to "mitigate the LGBT culture from spreading into our society". She said Malaysian laws were inconsistent because civil laws prohibit corporal punishment against female prisoners.

No increase in fuel prices for September
Diesel rates had hit Rs 69.31 a litre on May 28, but this record was breached on August 27 and on Monday they hit a fresh high. Petrol price in Delhi rose to a record Rs 79.15 a litre, Rs 8 more than the diesel, which is also at a record high.

Argentine Peso Hits New Low
The Argentine peso has lost more than 40% of its value against the U.S. dollar this year and inflation is rampant. Macri said that in the past week there have been "expressions of a lack of trust in the markets" about Argentina.

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".

Related news:

Hot News

isis-killer-beheading-video-story-top Colin Kaepernick Is New Face of Nike's "Just Do It" Campaign
Sep 04, 2018 - 23:45
Chief Executive Officer Mark Parker apologized for the company's work culture in May to employees in a company-wide meeting. Their ire spawned the hashtag #NikeBoycott . "They really use their platform in ways that are unfathomable".

isis-killer-beheading-video-story-top Rafael Nadal and Williams sisters bring the record US Open attendance
Sep 04, 2018 - 16:51
Argentine third seed Del Potro made the fourth round with a 7-5, 7-6 (8/6), 6-3 win over Spanish left-hander Fernando Verdasco . Serena, the No. 17 seed, will next face Kaia Kanepi of Estonia, who knocked out top-ranked Simona Halep in the first round.

isis-killer-beheading-video-story-top Texas woman, with baby, leads police on high-speed chase
Sep 04, 2018 - 12:48
The driver of that vehicle left the auto , taking a child from the backseat, before the police arrived. During the chase , a trooper deployed a tire deflation device to disable the front tire.

isis-killer-beheading-video-story-top Trump slams Sessions on Twitter, says AG is hurting GOP in midterms
Sep 04, 2018 - 11:27
Mr Trump then compared the Attorney General with "Lyin' James Comey", claiming the Democrats must love Mr Sessions now. The Dems all hated him, wanted him out, thought he was disgusting - UNTIL I FIRED HIM!

isis-killer-beheading-video-story-top US Open: Roger Federer beaten by John Millman in fourth-round shock
Sep 04, 2018 - 09:21
Cilic defeated No. 10 seed David Goffin pretty handily in their match on Monday, taking down Goffin in three straight sets. Djokovic has sweated his way to a 6-3, 6-4, 6-3 fourth round win over Joao Sousa as the heat returned to the US Open.

isis-killer-beheading-video-story-top US Open - Benoit Paire vs Roger Federer Preview & Prediction
Sep 04, 2018 - 08:43
Roger forced an error from his rival on the fifth set point and he broke back after a costly double fault from Novak. Federer will play Frenchman Benoit Paire , a 7-6, 3-6, 7-5, 7-6 victor over Austrian Dennis Novak , in round two.

isis-killer-beheading-video-story-top Myanmar reporters jailed for breaching official secrets act
Sep 04, 2018 - 00:01
Documents in their possession and on their phones were "not public information". The case has been widely seen as a test of press freedom in Myanmar.

isis-killer-beheading-video-story-top Celebrity Big Brother 2018: Ryan Thomas admits Roxanne Pallett ordeal was 'painful'
Sep 03, 2018 - 23:27
In her first interview after quitting the reality show on Saturday, she told Channel 5's Jeremy Vine: "At the time it hurt". She said: 'The first thing I did when I came out of the house was look back at the footage and I really got it wrong.

isis-killer-beheading-video-story-top Fire at Brazil National Museum engulfs 200-year-old building
Sep 03, 2018 - 23:00
The fire started on Sunday evening, after the building - a 19th-Century former royal palace - had closed for the day. Ricardo Moraes / Reuters The National Mueseum recently celebrated its 200-year anniversary.

I should learn from Roger Federer, says 'done nothing' Nick Kyrgios
Sep 03, 2018 - 20:40
The third round was the end of the line for men's and women's fourth seeds from Germany - Alexander Zverev and Angelique Kerber. Roger opened the match with four winners and he earned his first break point in game four when Andy landed a forehand long.

isis-killer-beheading-video-story-top Nick Foles Starts Thursday Vs. Falcons
Sep 03, 2018 - 20:15
He competed 71.9 percent of passes in three postseason games a year ago with eight touchdowns and one interception. Every day that passes without Wentz being cleared for contact, the more likely it is that Foles will start.

isis-killer-beheading-video-story-top China to invest over 60bn in Africa over 3 years
Sep 03, 2018 - 19:31
It said most of the agreements were aligned to commitments made during the FOCAC summit held in Johannesburg in December 2015. At the Johannesburg summit, Xi announced Dollars 60 billion in funding support for infrastructure development in Africa.

isis-killer-beheading-video-story-top Gabriel Jesus admits Sane treatment has Man City players fearful
Sep 03, 2018 - 18:28
Guardiola, however, has sympathy for his compatriot. They are what they are and we are what we are. It's not the best draw to start the season.

isis-killer-beheading-video-story-top Roberto Firmino says teammate is to blame for Alisson mistake against Leicester
Sep 03, 2018 - 18:00
Liverpool goalkeeper Alisson insists he will not make the same mistake again after his gaffe against Leicester . Now everyone is going to analyse that. "If we concede a second goal we have to take that as well".

isis-killer-beheading-video-story-top JD CEO's arrest steps on governance landmine
Sep 03, 2018 - 17:53
China's foreign ministry said Monday the Chinese Consulate in Chicago is looking into the circumstances surrounding Liu's arrest. Liu wasn't involved, but he unsuccessfully asked the court to hide his name out of concerns for his business and marriage.