Amazon today became the worlds second trillion dollar company, joining Apple in the ultra elite club. The Bellevue, Washington company saw a 1.35% increase in their stock price today, pushing it over the $1 Trillion level in market cap. It has since fallen back slightly at the time of this post.
Amazon has enjoyed a significant ramp in their market value over the past three years as the company has expanded its enterprise cloud services, steaming services, and online & physical retail sales. In the past three years, the stock value has nearly tripled.
Amazon hit the trillion dollar mark about a month after Apple hit that level. Apple did it back on August 2 and has been steady above the mark since hitting it. Google and Microsoft, for comparison, are in the mid-$800 million market cap region. Google sits at $840 million while Microsoft is $850 million. It is likely we will see one or both of them hit the trillion dollar level in market cap in 2019 should current trends continue.
Competitively, Amazon and Apple go head-to-head in a lot of areas and that likely won’t be changing any time soon. The companies are battling in the digital assistant space, as well as in music and video streaming. Indeed, Apple is expected within the next year to launch a more direct competitor to Amazon Prime’s video service which is rumored to include original content.