Amazon just joined the exclusive $1 trillion club (briefly).
The e-commerce behemoth jumped above a trillion dollar market cap on Tuesday during intraday trading. Its share price hit an all-time high of $2,050.27 earlier this morning bringing its value above the massive, yet meaningless, milestone. The share price is bouncing around and is currently sitting below that number but the share price will inevitably rest above the number soon enough.
Amazon, founded in 1994 with the lofty ambitions of taking on Borders and Barnes and Noble, has completely rewritten the rules of retail in the past couple decades as it has aggressively moved to build a massive logistics engine to power all sorts of e-commerce needs for a consumer base emboldened by the shift to mobile.
This news is all the more notable because it follows Apple’s ascent to the same milestone just a few weeks ago.
