It took Apple 38 years, while Amazon did it in just 21. While Apple’s iPhone and other devices remain popular and its revenues are growing, it is not keeping up with Amazon’s blistering sales growth.
Amazon became one of the world's most valuable companies after it reported a market cap of USD 1 trillion when its stock price reached USD 2,050.27 per share. Amazon had been in competition with Apple to reach the milestone. The iPhone maker achieved its goal last month. As Mashable reports, Amazon's trillion-dollar milestone follows just 50 days after it set a new record of over 100 million product sales during the annual Prime Day event.
The Amazon Prime Day, coupled with the company's successful Amazon Web Services and Amazon Logistics have helped it reach the trillion-dollar goal.
In the hardware category, Amazon attempted to venture into the smartphone business with its Fire phone but failed. However, its smart assistant speaker Echo has hit popularity.
It took Apple 38 years, while Amazon did it in just 21. While Apple’s iPhone and other devices remain popular and its revenues are growing, it is not keeping up with Amazon’s blistering sales growth.
Amazon has impressed investors by diversifying into virtually every corner of the retail industry, altering how consumers buy products and putting big pressure on many brick-and-mortar stores.
“It says a lot about Amazon and its ever-increasing dominance of segments of the retailing world as well as the web services business,” said Peter Tuz, President Of Chase Investment Counsel In Charlottesville, Virginia. “They have a tiny share of the worldwide retail sales market so there’s a lot left to capture there.”
Meanwhile, Amazon India said it's platform will also be available in Hindi, as the e-commerce major aims to bring the next 100 million shoppers online. The launch will enable shoppers in India to enjoy the ease and convenience of Amazon's shopping experience in Hindi, Amazon India Vice President, Category Management Manish Tiwary told reporters here. Customers can read detailed product information, find deals and discounts, place and pay for their orders, among other things, he added.
At launch, the Hindi experience -- which will also allow Amazon to tap into newer audience ahead of festive season sale -- is available on the Amazon mobile App on Android and mobile website. "Launch of the Hindi shopping experience is a significant step towards bringing the next 100 million customers online. This first Indian language launch will enable crores of Hindi-preferring customers across India to shop in their preferred language," he said.
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