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From Billions to Trillion: Amazon is Catching Up to Apple

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By Published On: August 31, 20180 Comments

Amazon’s soaring share prices mean it's catching up to Apple to become the next trillion-dollar company.

Apple may have crossed the finish line this month to become the world’s first company valued at $1 trillion, but that doesn’t mean the race is over. Amazon, which many believed would beat Apple to the record-breaking milestone, is catching up fast.

Amazon’s stock has been soaring, with a recent market swing seeing it pass the $2,000 mark. It’s the first time the company’s shares have risen so high, and they continue to remain above the mark despite some fluctuation.

The company will reach a $1 trillion valuation if its share price surpasses $2,050, which seems likely given recent surges. Not only has Amazon’s stock doubled in the last year, but its 2018 performance has been particularly good, and it saw a steady boost across several days this week. Amazon continues to pull ahead of Google’s parent company Alphabet, another contender for trillion-dollar status.

Amazon has been extending its reach in Australia and launched its membership service Prime here in June. While uptake has been slow and Amazon Australia even made a reported loss in 2017, the company remained confident enough to open a second fulfilment centre just this month in Sydney.

Analysts are increasingly confident that Amazon is on its way to meeting the trillion-dollar milestone, but there’s no timeframe yet on when that may be. Given the company’s rapid growth – well over 500 percent in the last four years – it probably isn’t far away.

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