Apple had recently achieved the mark of being the first company to become worth $1 trillion. Very briefly after that, Amazon has followed its footsteps and entered the trillion dollar club of business.
On this Tuesday, U.S. based company Amazon achieved this target as its stock price raised about 100% in a year due to retail sales and cloud computing. The shares have rised up to 1.3 per cent, the last session end being at $2,039.51. If the rise keeps the same pace, it would not be much later when Amazon overtakes its precedent Apple in the market value race. However there has already been a comparison between the companies, about how much time did both of them take to achieve this mark.
Apple on one hand, had to take a long time of 38 years to reach here. Whereas Amazon reached the same position after a struggle of 21 years. Apples growth is definitely significant in terms of its increasing revenues and popularity of its devices, but Amazon has given a tough competition to Apple for sure. Amazon has also totally changed the definition of retailing and online shopping, also putting peer pressure on the easy going traditional businesses. It has spread its wings in almost every area of market which clearly shows the rate at which Amazon is dominating business world and the web services.
Amazon, like Netflix also provides video streaming services at a rather cheaper rate, an entire super market for whole foods with its main profit driver being cloud computing. This extra profit driver has also become a reason for its growth and competence in the market as compared to Apple. Amazon has been covering a broad winged business domain and progressive since the start, whereas Apple took 25 long years for its actual progress to begin and rule the device world. Initially found as an online book retailer by Jeff Bezos in 1994, it started trading on May 15, 1997. By 12 more years, Amazon made its market value to be $100 and now it has hit the trillion dollar target providing a tough competition to Apple.