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Amazon hits Market Value of $1 trillion, to be the second one after Apple

Amazon

Tech giant Amazon Inc., on Tuesday, succeeded in bagging $1 trillion of market value, grabbing the position just after multinational tech giant Apple. Having its stock price doubled in just 15 months, Amazon achieved this figure in just 21 years whereas Apple took 38 years for the same.

By constantly impressing its investors, Amazon has been able to successfully augment its business in almost every industry by perfectly understanding customers’ needs. Amazon, founded in 1994, initially started trading on May 15, 1997, at $1.50 on a split-adjusted basis. It then escalated to a stock value of $1,000 from $100 in October 2009 and now it has reached $100,000.

Jeff Bezos, founder, and chairman of Amazon Inc., in 2010, elucidated about how he is astonished by Amazon’s growth:

“I came across the fact that Web usage was growing at 2,300 percent per year,” He added, “I’d never seen or heard of anything that grew that fast, and the idea of building an online bookstore with millions of titles — something that simply couldn’t exist in the physical world — was very exciting to me.”

Amazon's growth graph

                                                                                     Source: Annual Report

Talking about Apple, analysts expect that its revenue is expected to jump at a rate of 14.9 percent during the fiscal year which is said to be a substantial rise but still falls short than that of Amazon’s 32 percent of expected revenue growth in 2018.