- Amazon crosses the mark five weeks after Apple reached $1 trillion in early August.
- Analysts cite the company’s ever-diversifying portfolio as a value driver.
Shares of the e-commerce giant rose nearly 2 percent to a high of $2,050.50 in morning trading. The stock needed a price of $2,050.27 to reach the $1 trillion mark, based on an outstanding count of 487,741,189 shares in the company’s most recent quarterly report in July. By early afternoon Tuesday, the stock was at $2,035.64.
Analysts cite the company’s ever-diversifying portfolio as a value driver. Last year, Amazon launched into the grocery industry with its purchase of Whole Foods Markets. It is rounding out its hardwareand logistics segments with last-mile deliveries, and it’s pushing forward in advertising to challenge Facebook and Google.