Amazon’s market value has now crossed the $1 trillion-mark, becoming the second American company to do so after Apple.
It’s the third company internationally to reach the mark, after PetroChina briefly reached $1 trillion back in 2007.
The company’s stock reached a record high of $2,050.50 per share earlier today, which was enough to propel it past the $2,050.27 threshold it needed to cross the $1 trillion mark, although the price has since dropped back down.
Given the volatile nature of the stock exchange and the fact that markets are still active, it’s likely that Amazon will fluctuate back and forth beyond the $1 trillion mark in the coming days.
At the beginning of 2018, the company was worth just $580 billion. In the second quarter, the company’s net income ballooned to $2.5 billion, compared to $197 million in the second quarter of 2017.