Amazon becomes second company to reach $1 trillion market cap

Amazon has finally nailed the $ 1 trillion valuation target. The company, which has diversified its business from selling books online in the mid-90's, to creating the eReader market, spearheading cloud services with AWS, upending retail with its formidable online stores and changed the world with its massive A.I. and voice assistant technology,

Amazon seized the vaunted $1 trillion valuation earlier today, around a month after Apple Inc. became the first technology company in history to do so. Amazon’s stock fell back to the stratosphere late Tuesday with a market value of $995 billion. The company's shares were up 1.3% at $2,039.51.

Other companies on the cusp of a $1 trillion valuation include Amazon rival Microsoft, whose Azure cloud services as well as upcoming IoT (Internet of Things) play will likely propel it to attain the valuation (Microsoft and Google are both $170 billion away from hitting 1 trillion.

Source:Los Angeles Times