This information has been prepared by IG, a trading name of IG Australia Pty Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients.
The online retailer’s shares traded as high as $2,050 at its peak, jumping 1.9% just short of the breakthrough level of $2,050.2677.
However reaching the milestone was short lived, Amazon's market value dropped back to $US994.8 billion, just missing out on being the second trillion dollar companyin the US, following in the path of technology giant Apple.
Amazon is still ahead of Apple in some aspects, it took a record 21 years for the company to reach the milestone, while it took Apple 38 years to become the first publicly listed trillion dollar company in the US.
Amazon’s stock is up 74.5 % year to date. In comparison, Apple has risen about 35% in 2018.
Amazon, was founded by its chief executive Jeff Bezos, starting out in 1994 as a bookseller before expanding to become one of the world's largest internet retailers, now employing more than 500,000 staff.
The retail giant started trading in 1997 at $1.50 on a split-adjusted basis. It has now quickly diversified into most areas of the retail industry, changing how consumers buy products and putting big pressure on traditional retail companies while shaking up the retail industry.
.jpg)
