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Amazon becomes the 2nd US company to join the $1 trillion club

September 04, 2018 / GRAHAM RAPIER

It's official: Amazon is the second American company to achieve a valuation of more than $1 trillion. Shares of the e-commerce giant gained about 2% in trading Tuesday to hit an all-time high of $2,050.27. Multiplied by the current number of shares outstanding - 487,741,189 - that puts the company's book value just over the same symbolic milestone that Apple hit less than one month ago. One trillion is a difficult number to imagine, regardless of what's being counted. And even less so when it's the value of a 24-year-old company with a plethora of business units in addition to its core retail focus. For context, the entire US stock market - the sum of all publicly traded American companies including Amazon - hit $30 trillion back in January. Even more telling is Amazon's size when compared to the entire national stock markets of other countries. Its book value is now greater than that of every stock listed in all but 13 countries, including those of Taiwan, Spain, a...