Amazon market cap hit $1 trillion on Tuesday, becoming the second publicly traded U.S. company to reach the milestone valuation after Apple.
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.
Amazon crossed the mark five weeks after Apple reached $1 trillion in early August after posting a strong quarterly report.
Read more at CNBC.