Amazon has joined an extremely exclusive club of two publicly traded US companies that have reached the $1 trillion mark in market value.
As reported by CNBC, Amazon hit this market cap Tuesday morning after shares rose by almost two percent, making them worth $2,050.50. Because the outstanding share count was reportedly 487,741,189 shares, the math added up to the overall market value hitting that magical tredecuple digit number.
According to CNBC, analysts are citing an “ever-diversifying portfolio” from Amazon as an explanation for what drove the stock’s value upwards. A growth in Amazon Web Services is also noted as a major factor in the company’s recent success.
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As reported by CNBC, Amazon hit this market cap Tuesday morning after shares rose by almost two percent, making them worth $2,050.50. Because the outstanding share count was reportedly 487,741,189 shares, the math added up to the overall market value hitting that magical tredecuple digit number.
According to CNBC, analysts are citing an “ever-diversifying portfolio” from Amazon as an explanation for what drove the stock’s value upwards. A growth in Amazon Web Services is also noted as a major factor in the company’s recent success.
Continue reading…
Continue reading...