Amazon market value hits $1 trillion

Amazon.com Inc on Tuesday briefly joined Apple Inc to become the second $1 trillion publicly listed US company after its stock price more than doubled in a year as it grew rapidly in retail and cloud computing. Its shares traded as high as $2,050.50 before easing a little to end the session at $2,039.51, up 1.3 percent and just short of the milestone level of $2,050.2677. If the online retailer’s shares keep up their recent pace, it would be a matter of when, not if, Amazon’s stock market valuation eclipses that of iPhone maker Apple, which reached $1 trillion on Aug. 2. (Reuters)