Amazon became the second U.S. company to reach a $1 trillion market capitalization, following Apple.
Amazon crossed the threshold in September 2018, roughly one month after Apple reached it. The company began as an online bookstore in 1994 and expanded into electronics, household goods, entertainment, logistics, advertising, and cloud computing.
Its market capitalization was driven not only by retail sales but also by Amazon Web Services, which launched in 2006. AWS supplies computing, storage, and other services to businesses and institutions around the world. The company also owns Prime Video and operates the subscription program Amazon Prime.
Amazon was founded by Jeff Bezos, who initially chose the name after the Amazon River. A frequent misconception is that Amazon is only a retailer; its cloud division and advertising business are important parts of its corporate value.