After the Cupertino-based giant Apple became the first tech company to break the trillion dollar mark, it’s now another tech behemoth joining the trillion-wagon.
The e-commerce leader Amazon now stands with a market valuation of $1 trillion plus.
Surprisingly, it’s owned by the world’s current richest man, Jeff Bezos. Amazon’s shares have more than tripled in the last three years, and Google and Microsoft will soon catch up with the trillion-stalwarts Apple and Amazon.
Just in: #Amazon tops $1 trillion in stock market value.
— The Hindu (@the_hindu) September 4, 2018
Amazon Is Worth 1 Trillion Dollars
What started as a small online bookselling company in a garage at Seattle in 1994, now is worth a country’s GDP. Amazon clocked more than $200 billion in annual sales and currently has more than 575,000 employees worldwide.
With the growing dependence of the planet on technology, the tech companies will continue to thrive and dominate all other industries.
Amazon entered India in 2012, and now its one of the top two Indian e-commerce companies with one of the largest markets worldwide.
Amazon & 1 Trillion Dollars: The Rising Tech Industry
The Apple market has seen a growth touching more than 40 per cent in the last one year, while the Amazon has been on a rocket ship in terms of market value multiplication.
Till now during writing this, Amazon has a market cap which has over 110 per cent year-over-year growth.
The Amazon shares have crossed the $2,000 mark for the first time since it went public.
Since March 2009, the Amazon shares have gained more than 3,000 per cent, as per a report by S&P Dow Jones Indices.
The biggest success of Amazon was its business diversification and impressing investors from time to time by successfully implementing them. The company is now virtually in every corner of the retail and online industry, changing how buyer purchase and pick products.
Apple vs Amazon: Who Will Stay Ahead?
On one hand, where Apple took over 38 years as a publicly listed company to achieve the trillion dollar mark, Amazon just did it a little under 21 years. Apple has its popular iPhones and other devices, but things will change soon.
Apple will need Amazon to sell its products, but Amazon doesn’t need an Apple to run its own business.
While Apple products will remain popular for around a decade or so, and Apple revenues will grow, but that’s not gonna stop Amazon’s massive sales numbers or the growth in long-term.
All the best Apple. See you in 2030!
With inputs from Reuters.
Image – wccftech