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Amazon hard on Apple’s heels

September 5, 2018.

Amazon Go, Seattle, WA.

Amazon Go, Seattle, WA. © iStock.

Just one month after Apple, Amazon passed a market value of 1 trillion dollars yesterday. After 24 years of operation, the company is the second in history to reach the symbolic milestone of 1,000 billion dollars (1012). Founded in 1994 by Jeff Bezos, Amazon was initially an on-line bookstore, gradually developing a unique logistical operations platform to sell a growing range of products. According to the New York Times, Amazon “captures 49 cents of every e-commerce dollar in the United States”. Its market value is greater than those of the 10 biggest brick-and-mortar retailers combined. However, Amazon is less profitable than Apple, posting “just” $3 billion in profits in 2017, compared to Apple’s $48 billion.

Ars Technica, “Amazon achieved a market value of $1,000,000,000,000.”