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Amazon joins Apple in trillion dollar valuation after share price rises to $2,050

Amazon employs more than 550,000 people and generates $178 billion in annual revenue.

New York, US, Sep 5 – Amazon’s market value passed the $1 trillion on Tuesday, joining Apple in the exclusive trillion dollar club.

The online retailer shares rose as high as $2,050.50 on Tuesday morning, pushing it over $1 trillion in value, before immediately falling back and then ending the day at $2,039.51, below the $1 trillion thresholds.

Amazon captures 49 cents of every e-commerce dollar in the United States. It employs more than 550,000 people and generates $178 billion in annual revenue.

It sells everything from computing space to peanut butter to appointments with plumbers.

At the beginning of 2018, the company was worth just $580 billion. In the second quarter, the company’s net income ballooned to $2.5 billion, compared to $197 million in second quarter of 2017.

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