Tech companies are seemingly off to the races as they each cross $1 trillion market cap evaluations from the rather generous, as of late, stock market.
Joining the ranks of Apple is now internet shopping juggernaut Amazon. As of September 4, 2018, Amazon has crossed the trillion dollar market cap evaluation and becomes the second only US company to hold the title.
Amazon's stock prices are boosting investor confidence with the company's stock price cresting at $2,050.27 and just above the trillion dollar cutoff of $2,050.27. By the end of trading on September 4, 2018, Amazon's stock rested at $2,035.64 and was in large part buoyed by a seven day streak of stock gains resulting in an additional $72 billion in market value over the past week.
While Amazon's investments in IoT and Whole Foods give investors a diversified portfolio to invest in, it's perhaps, Amazon's gains in the cloud that have investors more confident than ever.
A similar story is being told over in Redmond, as Microsoft and Amazon position themselves to be leaders in cloud computing, services and technologies over the next five years.
As Amazon and Microsoft continue to battle in the cloud space, and markets remain friendly to tech companies, it seems it'll only be a matter of time before the company joins the ranks of the trillion dollar market cap elite.