Amazon hits $1 trillion market capStaff Writer | September 5, 2018
Amazon hit $1 trillion in market cap on Tuesday, becoming the second publicly traded U.S. company to reach the historic threshold after Apple.
America Apple reached the trillion-dollar cap in early August
The stock needed to hit a price of $2,050.27 to reach the 1-trillion-dollar milestone based on its share count, according to the company's recent quarterly report in July. The stock retreated a bit after the record high and traded at a price of $2,036.04 around midday.
U.S. tech giant Apple reached the trillion-dollar cap in early August after the iPhone maker posted a strong quarterly report. It took Amazon about five weeks to catch up. The two Silicon Valley giants had been racing to the trillion-dollar valuation. ■