Despite this landmark number being short lived – its $2,050.50 shares slide back down to $2,039.51, remaining just below the $1 trillion market cap figure when the markets closed – it represents a positive milestone for the company.
Amazon managed an almost 110% rise in year-over-year growth, compared to Apple’s 40%, and is on the way to fulfilling founder Jeff Bezos 2017 predictions that within the next decade the company will have a $1.6 trillion market cap.
Founded in 1994, in just 24 years the company, the company has grown from its origins as an online book store to an internet retail behemoth that employs over 575,000 people around the world.
Amazon operates through its website in the United States, the United Kingdom and Ireland, France, Canada, Germany, Italy, Spain, Netherlands, Australia, Brazil, Japan, China, India, and Mexico. The company’s shares are traded on the NASDAQ stock exchange under the ticker AMZN, and it is a member the NASDAQ-100 index, the S&P 500 index and the S&P 100 index.