The technology giant Apple has crossed the mark of $1 billion on August 2 and following their footsteps, Amazon too has crossed the milestone mark of $1 trillion on Tuesday. Most surprisingly, Apple got there after 38 years of its establishment while Amazon blistering growth make it to achieve $1 trillion club within 21 years of its set-up.
Started from a small garage in 1994, Amazon led by Jeff Bezos started its market trading from May 5, 1997 with $1.50 and it grows to $100 in 2009 and for the first time in history, it reaches to $1000 in 2017 and is rising since then.
Daniel Morgan, portfolio manager at Synovus Trust, Atlanta describes as Amazon’s cloud services as ‘Crown jewels’. He said, “Amazon’s a little bit more dynamic than Apple because the iPhone has become more mature. Amazon’s cloud business is an extra growth driver that Apple doesn’t have”.
Analyst says that Apple’s market revenue grows to 14.9% this year but Amazon is expected to grow at the pace of 32% for 2018 which clearly is a sign that amazon would soon cross the Apple’s market valuation.
Amazon’s growth recently is due to the long-term strategies taken by Jeff Bezos who once told in 2011 that, “If everything you do need to work on a three-year time horizon, then you’re competing a lot of people. But if you’re willing to invest on a seven-year time horizon, you’re now competing against a fraction of those people, because very few companies are willing to