Markets

Amazon becomes second USA firm to hit trillion-dollar market value

Amazon becomes second USA firm to hit trillion-dollar market value

If the online retailer's shares keep up their recent pace, it would be a matter of when, not if, Amazon's stock market valuation eclipses that of iPhone maker Apple, which reached $1 trillion on August 2.

Its shares traded as high as $2,050.50 before easing a little to end the session at $2,039.51, up 1.3 percent and just short of the milestone level of $2,050.2677.

Amazon‚ which employs almost half a million people‚ started out as an online alternative to bookshops‚ but has since expanded into selling household goods‚ tech and even groceries in certain large U.S. cities.

Amazon's market value hit US$1 trillion on Tuesday (Sep 4), the second company after Apple to hit the milestone, following an incredible journey for the internet giant which has kept a long-term focus since launching as an online bookseller two decades ago.

For example, Amazon's lucrative cloud computing business is built on technology infrastructure that the company needed to run its own operations.

Yankees acquire Andrew McCutchen from Giants
McCutchen, 31, has batted.255 with 15 home runs and 55 RBIs in 130 games while playing primarily right field for the Giants . It's something that we constantly just try to do what's best for the club and the individual".

Amazon and Apple are now worth more than the economies of countries such as Turkey and Switzerland.

Amazon must also guard against the kind of arrogance that can undo companies that come to dominate markets, according to the analyst. The giant online retailer and Web services company has been consistently profitable since 2015.

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

It's an accomplishment for Chief Executive Officer Jeff Bezos, who is the world's wealthiest person.

For the fiscal year 2017, Amazon and its 560,000 employees around the world reported total sales of $177.87 billion, netting it an adjusted profit of $6.15 per share, according to the company's annual report. Bezos's fortune was measured at just under $100 billion at the start of 2018, so he is theoretically up more than $66 billion in unrealized gains so far this year.


  • Federer, Djokovic through as storm rages over umpire's Kyrgios pep-talk

    Federer, Djokovic through as storm rages over umpire's Kyrgios pep-talk

    Paire smashed his racquet, argued with the umpire and produced 11 double faults as Federer came through 7-5 6-4 6-4. The only problem? Umpires aren't allowed to give struggling players any form of on-court coaching or pep talks.
    Asian Games 2018: Vietnam’s fearless  run ended by Korea Republic

    Asian Games 2018: Vietnam’s fearless run ended by Korea Republic

    In 2002, Park helped South Korea to the semifinals of the World Cup as assistant to Guus Hiddink, but now things have changed. At the AFC U23 Championship held in China in January, Vietnam lost to South Korea 2-1 in the group stages.
    Hurricane lane brought to Hawaii record rainfall

    Hurricane lane brought to Hawaii record rainfall

    It used to be situated 1,230 miles east-southeast of Hilo and used to be transferring west at Thirteen mph. The center of the storm is located 1,105 miles ESE of HIlo at 14.2 N 139.4 W, moving west at 12 mph.
  • Rangers star makes Barcelona claim after Old Firm derby defeat

    Rangers star makes Barcelona claim after Old Firm derby defeat

    Celtic defeated Rangers on Sunday but goalkeeper Allan McGregor tried his hardest to not let that happen. I've been around the game a very, very long time and that's a foul in my book.
    Cristiano Ronaldo needs time to break Juventus duck Massimiliano Allegri

    Cristiano Ronaldo needs time to break Juventus duck Massimiliano Allegri

    Allegri insisted that Serie A presents different issues to a player who has only played in Portugal, Spain and England previously. He continued, "Serie A is a league where the teams defend carefully".
    Blue Jays trade Josh Donaldson to Indians

    Blue Jays trade Josh Donaldson to Indians

    And, in true hockey/Canadian fashion, ball caps littered the Rogers Centre field after the Bringer Of Rain's "Hat Trick". It was with that production in mind that the Blue Jays discussed a possible extension with Donaldson this spring.
  • Tropical Storm Gordon to Strengthen to Hurricane as It Makes Landfall

    Tropical Storm Gordon to Strengthen to Hurricane as It Makes Landfall

    Louis, Murphy's bar opened past year for the first time since Hurricane Katrina; members of his family have owned it since 1982. Rivera said he is anxious about Gordon. "We don't want to go through what we went through before", O'Neal says.
    Roger Federer stunned at US Open by unseeded Australian

    Roger Federer stunned at US Open by unseeded Australian

    The victor will play Novak Djokovic , who easily accounted Joao Sousa of Portugal 6-3, 6-4, 6-3 earlier in the day. Things grew tougher in the second as a sluggish Djokovic laboured before again clinching the set with a break.
    Halle Berry jokes about teenage Prince Harry's dorm room poster of her

    Halle Berry jokes about teenage Prince Harry's dorm room poster of her

    As with most teenage boys, his dorm room featured a healthy balance of school supplies and posters showcasing his teenage tastes. A series of old photos from Prince Harry's days at Eton College is doing rounds on the Internet, yet again.
  • Petrol, diesel prices hit all-time high

    Petrol, diesel prices hit all-time high

    The rupee, which lost 10 paise against the USA dollar in late afternoon trade on Monday, ended at a new record low of 71.10. Saudi Arabia, which is world's second largest oil producer, too is contributing to keep the prices on an upward trend.
    Nick Saban snaps at reporter over QB question: 'Quit asking'

    Nick Saban snaps at reporter over QB question: 'Quit asking'

    So why do you continually try to get me to say something that doesn't respect one of them? "I'm not going to, so quit asking". Saban may want to convince everyone that both Jalen Hurts and Tua Tagovailoa have roles on the team, and that's fine.
    Governor Signs Legislation to Eliminate Money Bail System in CA

    Governor Signs Legislation to Eliminate Money Bail System in CA

    In negotiating a compromise with Brown and the California judiciary, she said, the authors of SB 10 abandoned those principles. Assemblywoman Lorena Gonzalez-Fletcher, D-San Diego, carried the bill on the Assembly floor Tuesday.