Amazon on Tuesday, September 4, became the second publicly traded company to hit the $1 trillion mark in market value, joining Apple, which in August became the first company to surpass the historic financial milestone.
CNBC reported midday on Tuesday that Amazon’s shares needed to hit the per share price of $2,050.27 to reach the $1 trillion mark based on outstanding shares totaling 487,741,189. The company passed that per share price mid-morning on Tuesday.
The report also noted that Amazon’s stock has risen more than 70% in 2018.
Through the first half of 2018, the company has seen sales and profit levels rise. In reporting second quarter financials, Amazon reported net income of $2.53 billion, up from net income of $197 million in the comparable quarter the previous year. Net sales were $52.89 billion, up from net sales of $37.96 billion in the second quarter of 2017.