It has been only four weeks since Apple became the first company in the U.S. to hit a market cap of $1 trillion and now Amazon has joined them in this milestone. The company hit the $1 trillion market cap yesterday, though briefly, becoming the second company to achieve this milestone. Its share price also hit an all-time high of $2050.57 this morning pushing it past the milestone. Well done Amazon.
The share price has fluctuated a bit since then. As of this writing, it is currently below that huge milestone by a few million but I think we can reasonably expect that the share price will go beyond the number pretty soon.
If you have been following Amazon’s share price you know that it has been rising for the past few days. The company’s shares crossed over the $2000 mark for the first time on August 30th. Its share price has nearly doubled in the last ten months alone after they hit $1000 for the first time in October of 2017.
CEO Jeff Bezos net worth now is around $166 billion, almost double the $70 billion of Bill Gates. The question is, how far upward will it go? We will just have to watch and find out.