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Apple became the first $1 trillion company last month.

Its shares then hit the $2050.2677 level to give its stock a value of $1 trillion. The Cupertino-based iPhone-maker is now worth about $1.1 trillion.

In just two decades, the company expanded far beyond its bookseller beginnings - they've managed to combine a world-wide retail operation with a less showy, but clearly, incredibly profitable advertising and cloud software businesses.

Amazon has briefly become the second US-listed firm to have a market value of more than $1 trillion (£779bn).

Such astronomical growth from a small, Seattle book seller to one of the world's biggest companies, has made its founder and chief executive, Jeff Bezos, easily the richest person in the world.

Amazon crossed the $2,000 threshold for the first time on August 30 after doubling its price in just 10 months.

Amazon follows Apple, which reached the mark earlier this year. Market watchers have been expecting both Amazon and Apple to eventually have valuations topping $1 trillion.

Amazon retreated slightly after hitting the milestone, and near 1545, it was up 1.3 percent to $2,038.71.

Here's the breakdown of how Morgan Stanley - one of the stock's most bullish sell-side shops - sees Amazon's five main units in terms of value.

If the online retailer's share price continues at its recent pace, it will be a matter of when, not if, Amazon's market valuation eclipses that of iPhone maker Apple, which reached $1 trillion on August 2. Although it is well established in the U.S. and United Kingdom, it has huge scope to grow in the rest of Europe and Asia, especially India.