Amazon Logs $1 Trillion In Stock Market Value

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America’s online shopping giant Amazon became second US company after Apple to hit $1 trillion in stock market value on account of its better financial discipline in recent quarters

America’s online shopping giant Amazon, which has a sizeable presence in India, yesterday became the second US company to hit $1 trillion in stock market value. Silicon Valley-based Apple was the first US company to do so less than a month ago.

Amazon shares traded at $2,050.27 Tuesday afternoon, which pushed the company’s market valuation over $1 trillion. The Seattle-based company which started as selling books online is owned by Jeff Bezos, who among other things also owns The Washington Post, a top American daily.

Amazon, in recent years, has emerged as a disruptive force in shopping, attracting millions of customers across the globe – the US and India in particular – to shop online. Over the past few years, Amazon has emerged as a major FDI investor in India.

This year alone, Amazon stocks have jumped 75 per cent adding $435 billion to its market capitalization. This is combined market capitalization of America’s top three retail stores – Walmart, Costco and Target.

The Wall Street Journal said investors rewarded Amazon because of it demonstrating better financial discipline in recent quarters.

Source: BW Disrupt

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