Apple Walked To $1 Trillion; Amazon.com Got There In A Sprint
By Jeran Wittenstein and Lu WangBloomberg
America went 242 years without a trillion-dollar company. Thirty-three days after getting the first, it now has two.
And while Apple Inc. lumbered through the final stretch, needing 15 months to traverse the last $200 billion, Amazon.com Inc. covered it in a three-month sprint. The $440 billion in market value Amazon has created in 2018 alone exceeds the value of all but five S&P 500 companies.
Jeff Bezos’ online superstore rose as much as 1.9 percent to $2,050.50 per share in New York, sending its capitalization above $1 trillion for the first time Tuesday. Apple passed the 13-digit boundary on Aug. 2. Two other companies, Microsoft Corp. and Google parent Alphabet Inc., are within $170 billion of the goal.“I never would have thought at $200 that this would be a $2,000 stock,” said Jason Cooper, a money manager who helps oversee $4 billion, including Apple and Amazon shares at 1st Source Investment Advisors in South Bend, Indiana. “At $300, I thought we missed the boat. Boy, was that wrong.”
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