Headlines

Amazon Hits $1T Cap

It’s now the second American company to reach a trillion dollars

Published

6 years ago

September 4, 2018

kmpeyton

Amazon.com Inc. (Seattle) has reached $1 trillion in market value. It is now the second American company to reach this value, behind Apple (Cupertino, Calif.), which reached that goal last month.

This past Thursday the company experienced a surge of options trading at double its daily average volume, reports CNBC. To reach the $1 trillion threshold, the shares only needed to rise above $2059. A Morgan Stanley price target upgrade from $1850 to $2500 last Wednesday pushed the shares up 6 percentage points, up to an all-time high of $2025.57.

In the past year, Amazon’s stock is up 105 percent, landing this past Friday at $2010 per share.

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