It’s prime time at Amazon.com ... Shares hit coveted $1,000 mark
NEW YORK — Amazon, the Internet goliath that revolutionized the way much of the world buys books, toilet paper and TVs, hit a new milestone Tuesday.
Its stock surpassed the $1,000 mark for the first time. That price put Amazon’s market value at about $478 billion, double that of the world’s biggest traditional retailer, WalMart, and more than 15 times the size of Target’s. A $1,000 investment on Amazon’s first day of trading in 1997 would be worth more than $500,000 today.
Amazon just beat Google parent Alphabet Inc. to the $1,000 level, with Alphabet’s Class A shares parked at just $2 short of $1,000 on Tuesday.
Only four other U.S.-listed companies have shares trading above $1,000: Priceline Group, NVR Inc., Seaboard Corp. and Berkshire Hathaway Inc.