Amazon briefly joins Apple in $1 trillion valuation club in intra-day trading

AppleInsider

After a months-long race to become the first American company to reach a trillion-dollar market cap, Apple hit the milestone in August. Amazon joined them, briefly, on Tuesday.

Amazon on Tuesday joined Apple as the second company in history to reach a $1 trillion market capitalization by crossing the value threshold of $2050.27, although it has since slipped back below the threshold later in the morning.

The two tech giants had battled for much of the spring and summer over who would reach the $1 trillion mark first. But Apple soon pulled ahead, and the company earned that distinction on August 2 following a positive quarterly earnings report two days earlier.

Apple's stock has continued to rise in the month since and its market cap, as of midday on Tuesday, is $1.099 trillion.

On CNBC, analysts praised Amazon's diversifying portfolio, as well as growth in Amazon Web Services, as drivers for its recent growth. Amazon's stock has surged throughout the year, from $1,189 a share on January 1 to over $2,050 on Tuesday.

claire1

Right walstreet, Amazon is worth the same as Apple.....

rob53

Diversifying portfolio? If you mean the tiny amount of extra things outside their storefront and advertising then I don’t see anything of value. Amazon is way over valued for a simple online store that really doesn’t have much of any actual product. Apple actual makes things. 

lkrupp

And somehow, someway, this will used to declare Apple a failed company on its way out.

mknelson

rob53 said:

Diversifying portfolio? If you mean the tiny amount of extra things outside their storefront and advertising then I don’t see anything of value. Amazon is way over valued for a simple online store that really doesn’t have much of any actual product. Apple actual makes things. 

They're pretty profitable with Amazon Web Services (AWS) - they lease out server farms to a range of major companies: https://aws.amazon.com/solutions/case-studies/all/

The case studies include AOL????? Bwahahaahahahahaha!

hypoluxa

lkrupp said:

And somehow, someway, this will used to declare Apple a failed company on its way out.

Chuckle chuckle...yep.

rogifan_new

rob53 said:

Diversifying portfolio? If you mean the tiny amount of extra things outside their storefront and advertising then I don’t see anything of value. Amazon is way over valued for a simple online store that really doesn’t have much of any actual product. Apple actual makes things. 

Services are products too. Seems like AWS is pretty successful. Isn’t Apple one of their customers?

sflocal

I suppose if one throws logic out the door then it's no surprise that that Amazon reached that milestone.  Sure, their AWS division is doing great, but the rest of Amazon is just a money-burner.

hentaiboy

Warren Buffett: I was wrong on Google and Amazon, Jeff Bezos achieved a business 'miracle'

nunzy

Amazon just wants to be a monopoly. That's why Wall Street loves them. They don't make as much profit as Apple. Sick.

davgreg

claire1 said:

Right walstreet, Amazon is worth the same as Apple.....

Amazon is worth more than Apple- not by stock price, but in reality.

Apple makes iPhones- a one trick pony. The rest of the company could not sustain the overhead without the Jesus Phone.

davgreg

rob53 said:

Diversifying portfolio? If you mean the tiny amount of extra things outside their storefront and advertising then I don’t see anything of value. Amazon is way over valued for a simple online store that really doesn’t have much of any actual product. Apple actual makes things. 

You do know that Apple is a customer of AWS- including for iCloud.

That would be the company you call just an online store.

I own stock in both, bought both when they were much cheaper and have not added to either recently as I feel the market is ripe for a correction. Even great stocks can go down in a correction due to margin calls as well as overall sentiment.

thrang

davgreg said:

claire1 said:

Right walstreet, Amazon is worth the same as Apple.....

Amazon is worth more than Apple- not by stock price, but in reality.

Apple makes iPhones- a one trick pony. The rest of the company could not sustain the overhead without the Jesus Phone.

I feel the trolls are out a few weeks earlier than usual prior to a keynote...last week too they were littering...

jbdragon

davgreg said:

claire1 said:

Right walstreet, Amazon is worth the same as Apple.....

Amazon is worth more than Apple- not by stock price, but in reality.

Apple makes iPhones- a one trick pony. The rest of the company could not sustain the overhead without the Jesus Phone.

Thanks for the laugh. It made my day.

StrangeDays

davgreg said:

claire1 said:

Right walstreet, Amazon is worth the same as Apple.....

Amazon is worth more than Apple- not by stock price, but in reality.

Apple makes iPhones- a one trick pony. The rest of the company could not sustain the overhead without the Jesus Phone.

Welcome, troll! 0 points for originality tho...like others before you, you are consciously or ignorantly overlooking all of Apple's other ground-breaking successes in an over-40-years history. From PCs, to laser printers, to digital music, to music players, to phones, to notebooks, to tablets, to wearables, etc... Apple is the one that often breaks ground (if not in product then in design of product) and is copied by the industry as a whole. The one to beat. Their iPad product line makes more profit than most of the other entire public tech companies do. The insane size of the iPhone success just dwarves that fact and makes the feebleminded think the other successes are minor, when they are in fact not.

Rayz2016

davgreg said:

claire1 said:

Right walstreet, Amazon is worth the same as Apple.....

Amazon is worth more than Apple- not by stock price, but in reality.

Apple makes iPhones- a one trick pony. The rest of the company could not sustain the overhead without the Jesus Phone.

Yes, I think folk here are forgetting the truly innovative Amazon FireSale Phone. A device so advanced, so ahead of time, that it was sold at a loss on the day of its release. 

If only Apple could generate that much … er … what was that exactly?

franklinjackcon

rob53 said:

Diversifying portfolio? If you mean the tiny amount of extra things outside their storefront and advertising then I don’t see anything of value. Amazon is way over valued for a simple online store that really doesn’t have much of any actual product. Apple actual makes things. 

If Amazon really doesn't have much of any actual product then I don't see how you can also claim that Apple actually makes things. Apple designs things, very few of them, but other companies make them and assemble them. How much does Apple actually make? I'm not saying it's not a valid business model - it clearly is and that's why Apple is so valuable - but Amazon has also found a way to make money. The same way that AirBNB has no hotels and Uber has no taxis and Spotify no music but millions of people still hand their money over to them.

magman1979

davgreg said:

claire1 said:

Right walstreet, Amazon is worth the same as Apple.....

Amazon is worth more than Apple- not by stock price, but in reality.

Apple makes iPhones- a one trick pony. The rest of the company could not sustain the overhead without the Jesus Phone.

Oh look, the F'ing trolls have come out of their mom's basements and Russia's bunkers just before the unveiling of new Apple products, News @ 11!

dewme

I am one of Amazon's longest term customers. I am in awe of their innovation and operational efficiency. However, there are aspects of Amazon that create a great sense of uneasiness with me, but only because they are running a bit open-loop when it comes to balancing capitalist and socialist considerations that impact most western societies. Amazon is the archetype for how capitalism works on a global scale if there is a global level playing field. The problem is that no such level playing field exists and lots of real people who work for companies that are far more operationally constrained and less agile than Amazon are getting crushed by Amazon's incredibly efficient execution models. This is not really Amazon's fault, it's more an issue of operational disparities and legacy, some of which is imposed by regulations and some of which is self inflicted. If real people weren't impacted we'd all be celebrating the multiple successes that Amazon has delivered and slurping up the personal benefits that Amazon delivers - to some of us. But therein lies the problem, only some of us are benefiting significantly from Amazon's success while other are being left behind. These disparities will create social friction and backlash if they are not dealt with in a timely and considerate manner. Humans are never throw-aways or consumables.

Apple under Tim Cook has a social compass that is fully engaged with their business and capitalist agenda. Amazon is still finding its way in this area, and at the Jeff Bezos level, is coming off as somewhat disengaged and robotic. If Amazon doesn't develop a better sense of humanity their membership in the trillion dollar club will be very short lived.  

bestkeptsecret

thrang said:

davgreg said:

claire1 said:

Right walstreet, Amazon is worth the same as Apple.....

Amazon is worth more than Apple- not by stock price, but in reality.

Apple makes iPhones- a one trick pony. The rest of the company could not sustain the overhead without the Jesus Phone.

I feel the trolls are out a few weeks earlier than usual prior to a keynote...last week too they were littering...

It's the dry run phase. Less than a week to work themselves up to their most caustic, most illogical and most hilarious.

bestkeptsecret

I loved Amazon customer service, but the way they are pimping a Prime subscription is really turning me off.

I have a Prime subscription at Amazon.in. However, since I do not have a Prime subscription on Amazon.com, I cannot purchase any of the stuff that they randomly mark as "only for Prime subscribers".

They do not follow any kind of logic. One day, the Dunkirk Blu-ray is for Prime subscribers only and the next day, anyone can buy it. Things just randomly keep changing from Prime-only to everyone and vice-versa.

I guess the lost sales are no big deal to them. Yet.