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At $2,050.27 its shares are up around 136,584% since its IPO. Shares in the world's largest online retailer last traded up 1.4 per cent at $2,041.68. While Apple's iPhone and other devices remain popular and its revenues are growing, it is not keeping up with Amazon's blistering sales growth.

A major contributor to the company's massive profits has been its cloud business, Amazon Web Services (AWS). Saudi Arabia's national energy company, Aramco, is widely believed to be worth much more than either Amazon or Apple.

In the second quarter the unit accounted for 55 percent of Amazon's operating income and 20 percent of total revenue, according to Morgan.

Now, Amazon has followed in Apple's footsteps - the online retail giant successfully snagged the trillion-dollar company title for itself today, albeit temporarily.

Apple started trading in December 1980 but its stock did not truly start to take flight for another 25 years, spurred by the iPhone, the breakthrough device that left competitors in the dust.




Jeff Bezos, the founder and CEO - who is already the world's richest man - saw his personal fortune rise on Tuesday as well.

By October 2009 it had risen to $100 and the stock hit $1,000 for the first time on May 30, 2017.

Amazon reported almost $US53b in sales in the three months ended in June, with record quarterly profit of $US2.5b. The shares climbed as high as $2,050.50 in intraday trading in NY, just above the $2,050.27 level that gives the ecommerce and cloud computing giant a market capitalisation of $1 trillion.

Amazon now trades up 74.0 per cent for the year to date.

Amazon's stock has increased nearly 600 percent in the last five years, including a more than 70 percent surge so far in 2018 alone.


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