Amazon touches US$1 tril, on pace to overtake Apple

(Sept 4): Amazon.com Inc on Tuesday briefly joined Apple Inc to become the second US$1 trillion ($1.38 trillion) publicly listed US company after its stock price more than doubled in a year as it grew rapidly in retail and cloud computing.

Its shares traded as high as US$2,050.50 before easing a little to end the session at US$2,039.51, up 1.3% and just short of the milestone level of US$2,050.2677.

If the online retailer’s shares keep up their recent pace, it would be a matter of when, not if, Amazon’s stock market valuation eclipses that of iPhone maker Apple, which reached US$1 trillion on Aug 2.

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