Amazon just joined the exclusive $1 trillion club.
The e-commerce behemoth jumped above a trillion dollar market cap on Tuesday during intraday trading. It’s share price hit an all-time high of $2,050.27 earlier this morning bringing its value above the massive, yet meaningless, milestone.
Amazon was founded in 1994 with the lofty ambitions of taking on Borders and Barnes and Noble has completely rewritten the rules of retail in the 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.
Developing