FIRST AIRED: September 5, 2018

Nice work! Enjoy the show!

×

You’re busy. We get it.

Stay on top of the news with our Editor’s Picks newsletter.

US Edition
Intl. Edition
Unsubscribe at any time. One click, it’s gone.

Thanks for signing up!

×

Transcript

00:00:00
>> Amazon on Tuesday hit a market milestone, a trillion dollar valuation. It comes only a month after Apple became the first US company to cross that threshold and it might not be long before Amazon overtakes Apple to become the most valuable public company in the US Reuters market correspondent Noel Randewich.
00:00:21
>> Amazon's stock is up over 100% over the last 12 months. Apple stock is up around 37% over the last 12 months. If you were to do a little thought experiment and see what would happen how their market caps would look if the stock prices kept on rising at the pace that they have been rising over the last year.
00:00:42
You would have Amazon overtaking Apple's market capitalization around December and becoming the biggest US publicly listed company.>> Amazon briefly touched $2,050.27 Tuesday to clinch the trillion dollar valuation but slid back a bit.>> A lot of people still view Amazon mainly as where they go to buy merchandise online.
00:01:05
But on Wall Street, investors are well aware and keenly focused on other parts of its business as well, including its super fast growth. In cloud computing the possibility that it may start to display some competitors in healthcare as well and even other areas like online advertising.>> The company's rising fortunes this year come amid withering attacks from the White House.
00:01:31
President Donald Trump has repeatedly tried to beat up amazon claiming the business is bilking the post office. Many of his attacks appeared tied to CEO Jeff Bezos' ownership of The Washington Post, which won a Pulitzer Prize this year for its reporting into Russian interference in the 2016 election and possible links between the Trump campaign and the Kremlin.
00:01:52
Amazon started as an online bookseller in 1994 in the garage of CEO Jeff Bezos who's still at the helm of the company. In March, Forbes ranked him as the richest person in the world.