X
Why You Can Trust CNET Money

The editorial content on this page is based solely on objective, independent assessments by our writers and is not influenced by advertising or partnerships. It has not been provided or commissioned by any third party. However, we may receive compensation when you click on links to products or services offered by our partners. Review CNET's ethics statement.

  • Money
  • Stock Market
  • Investing

Amazon follows Apple as 2nd company to hit $1 trillion in market cap

For a few moments Tuesday, the e-commerce giant was a trillion-dollar company.

Headshot of Marrian Zhou
Headshot of Marrian Zhou
Marrian Zhou Staff Reporter
Marrian Zhou is a Beijing-born Californian living in New York City. She joined CNET as a staff reporter upon graduation from Columbia Journalism School. When Marrian is not reporting, she is probably binge watching, playing saxophone or eating hot pot.
Marrian Zhou
Amazon Unveils Its First Smartphone

Amazon.com founder and CEO Jeff Bezos.

 David Ryder/Getty Images

For a short while Tuesday, Amazon joined Apple and hit a $1 trillion valuation.

The e-commerce giant's stock rose to a high of $2,050.50 on Tuesday morning. It needed to reach $2,050.27 to cross the trillion-dollar threshold, based on the count of 487,741,189 shares from Amazon's most recent quarterly report in July.  

Amazon is the second US company to hit that mark, driven by its continued dominance in the retail world and its highly profitable cloud services business.

Amazon didn't stick around that level for long. The company recently traded at $2,024.64, up 0.6 percent from the previous trading session but below the $1 trillion mark, according to Yahoo Finance.

Watch this: Amazon takes heat for worker wages, website outage

Apple became a trillion-dollar company in early August, hitting $207.05 a share. It was the first US company to make that mark, and the second public company reached a trillion in the world. PetroChina, an oil and gas company, hit $1 trillion for a short time on the Shanghai Stock Exchange in 2007. On Tuesday, Apple's market cap hovered around $1.1 trillion.

Amazon declined to comment. 

About the Author

Headshot of Marrian Zhou
Staff Reporter
Staff Reporter

Marrian Zhou is a Beijing-born Californian living in New York City. She joined CNET as a staff reporter upon graduation from Columbia Journalism School. When Marrian is not reporting, she is probably binge watching, playing saxophone or eating hot pot.