24-year-old Amazon, world’s largest ecommerce portal and one of the biggest cloud computing provider has now become 2nd tech company to cross $1 trillion valuation mark.
Jeff Bezos, founder of Amazon too saw his worth increase by $2 billion in the last 24 hours, and now, he is worth more than TCS, which is India’s most valuable company.
Apple was the first US and first tech company to breach $1 trillion valuation, and that happened on August 2nd.
Hence, two US and tech companies have crossed $1 trillion mark within a month, and this is indeed history being made here.
Together, Amazon and Apple, both hold 8% of the value of entire S&P 500 list.
How Did This Happen?
The magical figure of $1 trillion, which is $1,000,000,000,000 was breached by Amazon, when its share prices crossed the strategically important value of $2000.
As of now, while I am writing this blog, each Amazon share is worth $2041.45.
Few hours back, the stock prices even hit the value of $2050, which is 136584% more than the price of Amazon IPO, which was launched in May, 1997.
What Is The Future Trend For Amazon?
Buy. Buy. Buy.
96% of stock market experts from FactSet (a prominent US based financial data and software company) have declared to their clients: Keep buying Amazon stock, and the market is expecting further rallying in the coming days. Atleast till the end of September.
Among all tech companies in the US, this is the highest ratio of recommendations.
Amazon’s total sales have jumped 39% compared to last quarter, and everyone is bullish on them. Comparably, Apple showcased increase of only 17%.
Why Are Investors Excited?
Just to give an idea: If we add up the combined revenue of top 14 retailers in the US (from Walmart to Autonation, as per 2017 revenues), then still Amazon’s market valuation of $1 trillion won’t be beaten.
Investors are mainly excited for the tremendous growth trajectory showcased by Amazon, as they are now focussing on cloud computing, a gold mine of revenues, and other sectors such as grocery, building supply, and general retail stocks.
This, when 90% of the American spending on retail happens at brick-and-mortar stores.
Jeff Bezos Now Worth More Than TCS!
Now, this is one comparison which defeats all other comparisons.
Jeff Bezos, who is the world’s richest person as of now, saw his net worth jump up by $2 billion in the last 24 hours, due to intense rallying in Amazon stocks.
Even if we ignore that, Jeff Bezos is now more valuable than entire TCS, which is India’s most valuable company.
As of now, Jeff Bezos’ total worth is $166 billion, whereas TCS’ total worth is $112 billion.
It would be shocking, but Jeff increased his wealth by $266 million per day.
We will keep you updated, as receive more updates.