Tuesday, 20 November, 2018

Amazon becomes the 2nd United States company to join the $1 trillion club

Graphic More Graphic More
| 05 September, 2018, 16:11

Now, Amazon has followed in Apple's footsteps - the online retail giant successfully snagged the trillion-dollar company title for itself today, albeit temporarily.

It's official: Amazon is the second American company to achieve a valuation of more than $1 trillion. Shares in the world's largest online retailer last traded up 1.4 per cent at $2,041.68.

It is also a major streamer of video content on its Amazon Prime service. Saudi Arabia's national energy company, Aramco, is widely believed to be worth much more than either Amazon or Apple. "Amazon's cloud business is an extra growth driver that Apple doesn't have", said Daniel Morgan, portfolio manager at Synovus Trust in Atlanta who describes Amazon's cloud services as its "crown jewel".

Amazon's share prices slightly receded after hitting the milestone, trading for $2036.95 at the time of writing. In the second quarter, AWS booked $6.1 billion in sales (up 49%), and generated an operating income of $1.64 billion (up 79%).


Its founder Jeff Bezos is the world's richest person. It has held above that level since October 27, 2017.

Amazon.com Inc on Tuesday briefly joined Apple Inc to become the second $1 trillion (777.79 billion pounds) publicly listed USA company after its stock price more than doubled in a year as it grew rapidly in retail and cloud computing. That milestone, just a month after it reached a $900 billion valuation threshold.

Following its new peak, Amazon's stock immediately began to tumble, coming to rest at $2,024.67 around 12:30 p.m. before regaining some value and stabilizing at about $2,040 per share. The company's stock has surged more than 70 percent since January, outperforming Apple, which has gained more than 30 percent.

Recommended

Imran Khan govt plans proposal to 'resolve' Kashmir issue Imran Khan govt plans proposal to 'resolve' Kashmir issue In January 2016, seven security personnel were killed after militants attacked the Indian Air Force base in Pathankot. He said a comprehensive time-bound action plan with delineated responsibilities be submitted to him for his approval.

Progressive Defeats Longtime Dem House Incumbent In Boston Progressive Defeats Longtime Dem House Incumbent In Boston " Ayanna Pressley is going to be a good Congresswoman and MA is going to be well served", Capuano said in his concession speech. Joe Crowley (D-N.Y.) in the Democratic primary for New York's 14th Congressional District race in June .

Nike enters National Football League anthem debate with Kaepernick ad Nike enters National Football League  anthem debate with Kaepernick ad It also works because of the NFL's own actions. "Oh, Nike! You are soooo courageous !" the statement says. So while this new campaign represents Nike taking a stand, it also illustrates where the world is headed.

Colton Underwood revealed as next ‘Bachelor’ Underwood first joined the dating show in The Bachelorette season that had him vying for the affections of Becca Kufrin . Most recently, Underwood had been among the cast of " Bachelor in Paradise " until he departed the show last week.

Typhoon Jebi lashes Japan Typhoon Jebi lashes Japan A police auto makes through a flooded road following a powerful typhoon in Osaka, western Japan, Tuesday, Sep 4, 2018. The tanker's 11 crew members were not injured and remained on board, according to Japan's coast guard.

United Nations warns of 'bloodbath' in Idlib as Putin's jets attack Syrian rebels United Nations  warns of 'bloodbath' in Idlib as Putin's jets attack Syrian rebels Earlier, the Syrian Observatory for Human Rights said Russian jets bombed Idlib province after a 22-day pause. Ankara last week added Tahrir al-Sham to its list of designated terrorist groups.

Fuel prices to remain unchanged: Radebe Fuel prices to remain unchanged: Radebe In October 2017, the excise duty on petrol was reduced by Rs 2 per litre, the first such reduction by the current BJP government. The surge in fuel prices is largely attributed to the rise in crude oil prices and high rate of excise duty in the country.

Samsung's sales of Note 9 likely to beat predecessor Samsung's sales of Note 9 likely to beat predecessor Mind you, this is nothing new for anyone who's used a Samsung phone, but it could have been different with the Note 9. If there is indeed an iPhone X Plus on the horizon, it will easily be the best competitor to the Galaxy Note yet.

John Millman Just Knocked Off Roger Federer At The US Open John Millman Just Knocked Off Roger Federer At The US Open Millman had trained with Federer at his Swiss base prior to Wimbledon, an experience that certainly seemed to calm his nerves. He eventually won the second set 7-5 and claimed the third in a tie-breaker but dropped serve to trail 4-2 in the fourth.

Nick Foles to start in Eagles' opening-night contest Nick Foles to start in Eagles' opening-night contest Then he got as hot as any quarterback ever has for a couple games, which will be his football legacy forever. The Philadelphia Eagles announced quarterback Nick Foles will start Week 1.

JD.com's billionaire CEO released after USA arrest JD.com's billionaire CEO released after USA  arrest Liu wasn't involved, but he unsuccessfully asked the court to hide his name out of concerns for his business and marriage. Liu grew up in a poor part of eastern China before attending the prestigious Renmin University in Beijing .

Pentagon Cancels $300 Million in Aid to Pakistan Pentagon Cancels $300 Million in Aid to Pakistan Others say the USA risks driving Pakistan further into the orbit of China, which is investing heavily in the country. That agenda includes using terrorists to shape the post-war future in Afghanistan - a future they wish to dominate.

Former spy said Russia had 'Trump over a barrel' Former spy said Russia had 'Trump over a barrel' Steele also reportedly said that a Trump campaign aide had more contact with Russian officials than had been revealed. Insight by the Trezza Media Group: Technology experts share their IT modernization progress in this free webinar.

US, Canada agreement on NAFTA 2.0 appears to be in reach US, Canada agreement on NAFTA 2.0 appears to be in reach That authority was for a trilateral deal involving all three NAFTA partners, not a bilateral pact between just two of them. News of the U.S. -Mexico tentative deal has raised concerns the trade ship has left port, with Canada still at the dock.

'Ridiculous': Ronaldo's agent fumes over Player of the Year snub 'Ridiculous': Ronaldo's agent fumes over Player of the Year snub The draw was also kind on German champions Bayern Munich, although they will meet two great European names in Benfica and Ajax. And I have been invited before in the friendly match against Uganda in uyo by late Stephen Okechukwu keshi.