Amazon became the second U.S. company to exceed a $1 trillion market capitalization.
Amazon crossed the milestone in September 2018, about one month after Apple became the first U.S. company to do so. The achievement reflected the rapid expansion of Amazon from an online bookstore into a broad technology and commerce company.
Jeff Bezos founded Amazon in 1994, and the business began selling books online in 1995. It later expanded into marketplaces, logistics, digital media, consumer devices, and cloud computing. Amazon Web Services became a particularly important source of infrastructure and revenue for the wider group.
The milestone concerns the value of Amazon’s publicly traded shares. It does not mean Amazon had $1 trillion in cash or sales. Company rankings by market capitalization can change quickly because they depend on share prices, which fluctuate throughout each trading day.