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Amazon Joins Apple to US$1 Trillion Club

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Published on : Sep 05, 2018

Shares of Amazon.com Inc. increased with 1.9 percent which pushed the market value of the company to US$1 trillion, along with Apple Inc. The Chief Executive Officer and founder of the company Jeff Bezos is one of the wealthiest people who is running the global business whose global sale is more than US$200 billion.

The other tech competitors such as Alphabet Inc. and Microsoft Corp. are very close to the Amazon. Apple and Amazon are not the first companies to attain the valuation of US$1 trillion, previously, the energy company PetroChina Co. crossed the valuation in 2007, but faced the crisis due to fall in oil prices. Still, the online retail giant has managed to handle rising competition in the online retail.

Amazon has traveled the long way from its beginnings, things have changed in the past few years. Amazon started its business by selling books, now moving beyond the business of books, it added the toys and electronics. Now, the company is offering retails goods, by connecting the shoppers to their customers. It offers variety from nearby stores.

The prime membership of Amazon (launched in 2005) has contributed to the success of the retail giant. It has now more than 100 million prime members. Some of the researchers suggest that it’s just a start, the company will continue its growth march and come up with some new services.

The issues such as antitrust concerns in the US is a threat to the business. But, it is known to be a job machine in the US.