Amazon touched a market value of $1 trillion Tuesday, becoming just the second publicly traded company to reach the milestone.
The Seattle e-commerce company's share price hit $2,049.50 at 11:35 a.m. in New York trading, pushing its market capitalization over the trillion-dollar mark. Apple became the first trillion-dollar company early last month.
Later on Tuesday, Amazon's market value dipped below the trillion-dollar mark again. Its stock closed Tuesday at $2,039.51, giving it a market capitalization of about $995 billion.
Starting as a new way to sell books in the early years of the internet, Amazon has grown to an online behemoth and has changed the retail landscape across the world.
The 24-year-old company has dipped its toes into everything from e-reader devices, to smart speakers that act as home personal assistants, to physical grocery stores. Amazon also operates the world's largest cloud-computing platform, Amazon Web Services, which rents computing power to a huge number of organizatons.
Amazon's shares are up 75 percent from the beginning of the year.
