Amazon first exceeded a $1 trillion market capitalization during intraday trading in 2018 after Apple.
Amazon passed the $1 trillion mark on September 4, 2018, when its share price rose during the trading session. It became the second U.S. company to reach that level, following Apple’s closing milestone the previous month. Amazon’s market value reflected rapid growth in online retail, cloud computing through Amazon Web Services, and digital advertising.
The company did not begin as a giant retailer. Jeff Bezos founded Amazon in 1994 as an online bookstore, and it expanded into a broad marketplace and technology platform. AWS became particularly important because cloud services generally produce different economics from traditional retail.
Amazon’s intraday achievement differs from a closing-price record. Since share prices fluctuate, the company’s valuation can briefly cross a round number and then finish below it.