The US stock market rally has made two US company stocks to hit $1 trillion mark in market cap this August. First the smart-phone major Apple won the accolade on August 2nd after having presence of almost 38 years. Soon after, in a brief time of just 21 years Jeff Bezos' online marketplace Amazon has hit the milestone after its stock breached levels of $2,050.27 in intra-trade yesterday.
With the new landmark, the company's market hit reached a figure of $ 1 lakh crore on the basis of total outstanding shares of 487,741,189. The rally in Amazon's stock price by a rough 1% triggered the company to reach this new milestone.
Given the stock market run so far in this year, wherein the stock price of Amazon has almost doubled, it will not be far when the company's stock valuations will surpass that of Apple.
The two other tech giants to soon cross this landmark are Microsoft and Google.