Amazon’s journey from an online bookseller started in a garage to a global e-commerce powerhouse valued at a trillion dollars has centered on obsession with the long road.
The company initially incorporated as “Cadabra” by Jeff Bezos in 1994 and backed with money borrowed from his parents joins Apple as the second US technology firm to be valued at $1 trillion on Tuesday.
“It’s funny comparing Apple and Amazon because they are very different companies,” says independent technology analyst Rob Enderle.
“Apple is basically a one product company nowadays; Amazon is anything but.”
While Apple makes most of its money from iPhones, the Amazon empire includes global e-commerce operations, cloud computing, artificial intelligence, streaming television, groceries, and more.
— AFP
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