Amazon's shares are up 75 percent from the beginning of the year.
Amazon is the second USA company to hit that mark, driven by its continued dominance in the retail world and its highly profitable cloud services business. Amazon Web Services provides cloud computing services to companies and government, and its advertising division makes billions by selling ads to companies that want their products to show up when shoppers search on the site.
It began the day needing just over $18bn worth of net value to reach $1trn - a month after Apple won the race to be the first company with such a market capitalisation.
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One of Amazon's revenue drivers is its Prime subscription service which offers streaming video and music, free delivery and other perks and which has more than 100 million members worldwide.
Amazon shareholders have already had a extraordinarily good year.
It surged past the trillion dollar mark this afternoon, prompting experts so say it could become even bigger than Apple.
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Amazon has briefly become the second US-listed firm to have a market value of more than $1 trillion ($NZ1.53tn). Most notable was the speed with which Amazon hit the milestone, with its shares having more than tripled in the past three years.
The Seattle e-commerce company's share price was $2,049.50 at 11:35 a.m.
Here's the breakdown of how Morgan Stanley - one of the stock's most bullish sell-side shops - sees Amazon's five main units in terms of value. Although it is well established in the U.S. and United Kingdom, it has huge scope to grow in the rest of Europe and Asia, especially India.
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'We expect Amazon to continue doing well going forward, with the company having a proven ability to expand into new markets.