Shares of the e-commerce giant rose nearly 2 percent to a high of $2,050.50 in morning trading. The stock needed a price of $2,050.27 to reach the $1 trillion mark, based on an outstanding share count of 487,741,189 shares , according to the company’s most recent quarterly report in July. Amazon captures 49 cents of every e-commerce dollar in the United States. It employs more than 550,000 people and generates $178 billion in annual revenue. It sells everything from computing space to peanut butter to appointments with plumbers.
Last year, Amazon even launched into the grocery industry with its purchase of Whole Foods Markets. Amazon has posted particularly impressive growth in Amazon Web Services. The business segment grew nearly 50 percent in the second quarter. Amazon stock has gained more than 70 percent in 2018 and has more than doubled in the last 12 months. That dwarfs gains by the overall market, with the S&P 500 index gaining 8 percent this year and 16 percent in the last 12 months. Mr. Bezos made clear when Amazon went public in 1997 that he would not work for Wall Street, and the result was a company cast in an entirely different mold. It never feared losing money.