Amazon becomes 2nd US company to reach USD 1 trillion value

Amazon becomes 2nd US company to reach USD 1 trillion value
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Washington: E-commerce company Amazon on Tuesday became the second American company to cross USD 1 trillion in value.

The Jeff Bezos-founded company and Apple now make up more than eight percent of the entire value of the S&P 500, CNN quoted senior index analyst for S&P, Howard Silverblatt as saying.

The company’s stock reportedly rose nearly two percent in the morning trading, thereby putting its market value just over the 13-digit territory.

Amazon, in just two decades, expanded far beyond its bookseller beginnings. It has revolutionised how people shop online.

Apple topped the USD 1 trillion mark in early August.