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    Amazon Becomes Second US Company to Hit $1Trln Valuation Mark

    © AFP 2019 / LEON NEAL
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    WASHINGTON (Sputnik) - US e-commerce giant’s valuation reached the trillion-dollar mark on Tuesday after shares rose by two percent on the NASDAQ stock exchange.

    Amazon is the second publicly-traded US company to reach the historic threshold in market capitalization (market cap) after Apple surpassed $1 trillion in early August. Analysts say the e-commerce giant’s diversifying portfolio has been a value driver.

    READ MORE: Keep Calm: Amazon Workers 'Can Go to Toilet Anytime' and Proud of It

    "They have given investors’ confidence that they can go and disrupt markets just like they've done with retail," partner at venture capital firm Loup Ventures Gene Munster told CNBC.

    In addition to online shopping and delivery services, last year Amazon stepped into the grocery industry with the purchase of Whole Foods Markets.

    In July, reports stated that Chief Executive Director of Internet retailer Amazon, Jeff Bezos, became the world's richest businessman outpacing Bill Gates. In addition, Bezos is among the top 5 most influential people on the planet according to the ranking published by Forbes in May 2018.


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