On Tuesday, 4 September, Amazon became the second US public company to reach a $1trn market cap following Apple’s share price surge in August. Amazon’s share price reached the $2,050.50 mark for the first time yesterday, after a run-up that saw the price double in less than a year. The company was launched in 1994 by founder Jeff Bezos.
According to CNBC the trillion-dollar valuations of Amazon (and Apple) are bigger than the combined market caps of Exxon Mobil, Procter & Gamble and AT&T and Apple and Amazon each account for c. 4% of the value of the entire S&P 500 Index. Amazon closed Tuesday’s session at $2,039.51 and a market cap of $994.8bn