Disclaimer: We may earn a commission if you make any purchase by clicking our links. Please see our detailed guide here.

Follow us on:

Google News
Whatsapp

Amazon Becomes the Second Company After Apple to Join $1 Trillion Club

Shalini Chakraborty
Shalini Chakraborty
A literature enthusiast. Self-proclaimed feminist and loves to read on and about feminism. Avid thinker and writer of obscure feelings. Interested in photography and loves spending time on social media.

Join the Opinion Leaders Network

Join the Techgenyz Opinion Leaders Network today and become part of a vibrant community of change-makers. Together, we can create a brighter future by shaping opinions, driving conversations, and transforming ideas into reality.

Apple, the favorite tech company, took the lead in becoming the first technology company to cross the market value of 1 trillion dollars. But the dark horse, Amazon, had quickly gained speed and overtook Apple recently. There was also a marked performance in August, with its share price rising by $235.27 and a market value of more than $110 billion.

On the last trading day of August, the US stock market closed on August 31, Amazon’s stock price was $2012.71, up to $10.33 from the previous trading day’s closing price of $2002.38, or 0.52%.

On the last trading day of July, Amazon’s stock has reportedly closed at $1777.44, and while the last trading day of August saw the stock to close at $2012.71, which indicated an increase by $235.27, or 11.7%.

Amazon’s stock price increased by $235.27 in August, and it’s market value will naturally rise accordingly. Amazon’s market capitalization was $981.682 billion, based on the price at the close of last Friday, 31st August, the last day of August. Amazon’s market capitalization has already seen a rise in by $114.75 billion in the past August, basking our calculations on the retailer’s current 4.8774 billion shares.

“I think Amazon is firing on all cylinders,” Bill Baruch, president of Blue Line Futures, told CNBC’s “Trading Nation” in July. Amazon’s outperformance in its Web Services and Prime business segments has surprised and overwhelmed the Tech industry.

At the close of the US stock market on the last working day of August, the market value of the famous electric car manufacturer Tesla was 51.461 billion US dollars while the Amazon market value increased in August by more than twice the market value of Tesla.

Join 10,000+ Fellow Readers

Get Techgenyz’s roundup delivered to your inbox curated with the most important for you that keeps you updated about the future tech, mobile, space, gaming, business and more.

Recomended

Partner With Us

Digital advertising offers a way for your business to reach out and make much-needed connections with your audience in a meaningful way. Advertising on Techgenyz will help you build brand awareness, increase website traffic, generate qualified leads, and grow your business.

Power Your Business

Solutions you need to super charge your business and drive growth

More from this topic