Amazon Hits $1 Trillion Market Value Milestone (reuters.com)

Amazon.com on Tuesday became the second U.S. company to reach $1 trillion in stock market value, just weeks after Apple hit the same milestone on Aug. 2. Shares in the world's largest online retailer last traded up 1.4 percent at $2,041.68. Its shares hit the $2050.2677 level to give its stock a value of $1 trillion. From a report: Amazon and Apple, which hit the trillion-dollar milestone on Aug. 2, symbolize the growing influence of tech companies on markets and the economy. The industry is amassing wealth and power, creating a new order in business where the most valuable resource is no longer oil, but data. Not far behind in market value are Google owner Alphabet Inc. and Microsoft Corp. , both approaching $900 billion, while Facebook -- which crossed $500 billion in July 2017, a day after Amazon -- has stalled at those levels amid a data-privacy scandal and growth concerns.

Comments

Re:Monopoly is meaningless?

[LynnwoodRooster]

For the most part, Amazon is much like a shopping mall chain - most of what they sell is FBA (Fulfilled By Amazon) for 3rd parties, and they take a warehouse/processing/shipping commission on it. Just like the mall owner gets rent (and often a piece of revenue in many places around the world).