On Tuesday, Amazon entered into $1 trillion club and joined Apple Inc. It emerged as the second member of the group after its stock price doubled in 15 months.
Apple took almost 38 years as a public company to achieve the trillion dollar milestone, while Amazon got there in 21 years.
“Amazon’s a little bit more dynamic than Apple because the iPhone has become more mature. Amazon’s cloud business is an extra growth driver that Apple doesn’t have,” said Daniel Morgan, portfolio manager at Synovus Trust in Atlanta, Georgia who describes Amazon’s cloud services as its “crown jewel.”
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