Amazon crossed the $2,000 threshold for the first time on August 30 after doubling its price in just 10 months.
But, is Apple really comparable to Amazon?
Amazon became the second USA -based company ever to surpass a market capitalization of $1 trillion as its stock price briefly rose to $2050.50 Tuesday morning.
Amazon has impressed investors by diversifying into virtually every corner of the retail industry, altering how consumers buy products and putting big pressure on many brick-and-mortar stores. For example, you can expect to see Amazon commercials during NFL Thursday Night Football this season, as well as ads on video game streaming service Twitch, which the company acquired in 2014.
A major contributor to the company's massive profits has been its cloud business, Amazon Web Services (AWS).
Amazon and Apple are both worth about US$1 trillion.
In the second quarter the unit accounted for 55 percent of Amazon's operating income and 20 percent of total revenue, according to Morgan. Amazon - founded as an online book-retailer in Chief Executive Jeff Bezos' garage in 1994 - started trading on May 15 1997 at $1.50 on a split-adjusted basis. Amazon shares first hit $1,000 on October 27, 2017. Though it was a briefly-held position, given the erratic nature of the stock market, it was an exciting milestone nonetheless. The shares climbed as high as $2,050.50 in intraday trading in NY, just above the $2,050.27 level that gives the ecommerce and cloud computing giant a market capitalisation of $1 trillion.
For graphic on Analyst Price Targets, click https://reut.rs/2NHwHQq The stock is up 74.5 percent year to date.
The firm is expected to account for roughly half of all online shopping sales in the U.S. this year - and almost 5 percent of the country's overall retail market, according to research firm eMarketer.