Amazon passes $1 trillion in value amid attacks from Trump

Amazon becomes world's second $1tn company

Amazon is the second corporation to exceed $1 trillion in value after Apple, which crossed the threshold on August 2.

For context, the entire U.S. stock market - the sum of all publicly traded American companies, including Amazon - hit $30 trillion in January.

A little over a month ago Apple became the world's only trillion dollar publicly traded company. It was a temporary milestone, as Amazon shares hit $2,049.50 Tuesday morning then fell back.

It is also a major streamer of video content on its Amazon Prime service.

For example, Amazon's lucrative cloud computing business is built on technology infrastructure that the company needed to run its own operations.

Analysts said the success of the company's cloud business, Amazon Web Services, and rapidly-growing advertising arm have helped reassure investors who have long anxious about Amazon's profitability.

Bezos' riches have largely come through his ownership of 16.3% of Amazon's outstanding stock.

It has revolutionised how people shop online and is the world's dominant internet retailer.

Amazon's share prices slightly receded after hitting the milestone, trading for $2036.95 at the time of writing. It has held above that level since October 27, 2017.

Amazon's stock rose 1.7 per cent, putting its market value at just over US$1 trillion.

The Seattle-based company's stock has grown over 70 percent year-to-date, and has gained over 3,000 percent in the past decade.

Still plenty of catalysts could affect the horse race ー investors will be closely watching Apple's big iPhone reveal next Wednesday, and the all-important holiday shopping season will be key for Amazon.

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