Amazon’s stock tops $1,000 for the first time

FILE - In this June 30, 2011, file photo, a United Parcel Service driver delivers packages from Amazon.com in Palo Alto, Calif. A joke book “written” by a conservative author and filled with blank pages in a dig at Democrats topped Amazon's list of best sellers on March 10, 2017. (AP Photo/Paul Sakuma, File)

NEW YORK (AP) – Amazon, the e-commerce giant that has changed how much of the world shops for books, toilet paper and TVs, hit a new milestone. Its stock topped $1,000 for the first time.

That price puts Amazon’s market value at about $478 billion, double that of rival Wal-Mart and more than 15 times the size of Target. And its four-digit stock price places it in rare company: Only four other U.S.-listed companies have shares that trade above $1,000.

Amazon.com Inc. has come a long way since its start in 1995, when it mostly sold books. The Seattle company now sells just about anything, from groceries to small appliances, and has been blamed for taking business away from department stores, supermarkets and clothing retailers.

(Copyright 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s