Amazon became the first internet company to reach a $1 trillion market capitalization in September 2018.
Amazon crossed the threshold on September 4, 2018, about one month after Apple reached the same valuation. The company began as an online bookseller but expanded into a broad marketplace offering products, subscriptions, devices, and digital services.
Amazon Web Services was a major part of the company’s transformation. AWS provides cloud-computing infrastructure and services to businesses, governments, and developers worldwide. Amazon also owns businesses such as Prime Video and operates a large logistics network.
The phrase “internet company” can be used broadly, but Amazon’s achievement is distinct from the market-cap records of Apple and Saudi Aramco. Amazon was the second U.S. company to reach $1 trillion, and its shares trade on the Nasdaq under the symbol AMZN.