Amazon becomes the world's second trillion dollar company after Apple

Amazon becomes world's second $1tn company

In just two decades, the company expanded far beyond its bookseller beginnings - they've managed to combine a world-wide retail operation with a less showy, but clearly, incredibly profitable advertising and cloud software businesses.

It surged past the trillion dollar mark this afternoon, prompting experts so say it could become even bigger than Apple.

Inc. shares rose as much as 1.9%, pushing the company briefly beyond a market value of $1 trillion, a milestone Apple Inc. reached last month.

Like most tech billionaires, Jeff Bezos's net worth rises and falls based on his company's performance in the stock market. Amazon shares hit $2,050.49 shortly before noon on Tuesday, bringing the company's value above $1 trillion before declining slightly.

If the online retailer's shares keep up their recent pace, it would be a matter of when, not if, Amazon's stock market valuation eclipses that of iPhone maker Apple, which reached $1 trillion on August 2. In 2007, PetroChina Company's market cap surpassed the $1-trillion mark though the Chinese company's complex structure ensured that most of the shares stayed with the government, The Wall Street Journal reported. It first reached $100 on October 23, 2009.

Here's the breakdown of how Morgan Stanley - one of the stock's most bullish sell-side shops - sees Amazon's five main units in terms of value.

"We continue to aspire to be Earth's most customer-centric company, and we recognize this to be no small or easy challenge".

Of course, this news is unlikely to have any significant impact on Amazon as a company or the market at large.

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