Amazon Reached a $1 Trillion Market Cap

Jeff Bezos's company is just weeks behind Apple.
Amazon Reached a $1 Trillion Market Cap
Image credit: Reuters/Rex Curry via engadget

Grow Your Business, Not Your Inbox

Stay informed and join our daily newsletter now!
2 min read
This story originally appeared on Engadget

's status as the only public trillion-dollar company didn't last long. has been flirting with a $1 trillion market cap throughout trading on Sept. 4, passing the symbolic milestone in the morning. It reached the figure through a relatively recent surge, CNBC pointed out. While Apple reached $900 billion eight months earlier, Amazon's stock price has been climbing steadily throughout most of 2018 and has thrived since a record-setting Prime Day in July.

It's not hard to explain why: Amazon has its fingers in many pies, and it's successful in most of them. On top of its centerpiece online store, it has a thriving cloud services that includes the likes of AWS, and Prime Video. It's rapidly expanding its hardware offerings, and you can't ignore the value of Whole Foods. This is a company that's not only doing well in its core businesses, but regularly hedges its bets.

Not that everyone will be celebrating. Amazon has faced numerous strikes and other complaints from warehouse workers unhappy with low pay, dangerous working conditions and strict monitoring. Staffers have also complained about questionable technology sales, and there have been ongoing concerns about anti-competitive Kindle book pricing. The company's meteoric rise from a simple online bookstore to a trillion-dollar tech giant was no mean feat, but it might have come at a steep cost.

More from Entrepreneur

Get heaping discounts to books you love delivered straight to your inbox. We’ll feature a different book each week and share exclusive deals you won’t find anywhere else.
Amplify your business knowledge and reach your full entrepreneurial potential with Entrepreneur Insider’s exclusive benefits. For just $5 per month, get access to premium content, webinars, an ad-free experience, and more! Plus, enjoy a FREE 1-year Entrepreneur magazine subscription.
Entrepreneur Store scours the web for the newest software, gadgets & web services. Explore our giveaways, bundles, "Pay What You Want" deals & more.

Latest on Entrepreneur