Amazon has officially made it to the top of the valuation chart as of early January 2019. The day the tech giant became number one, Amazon stock rose three percent, closing out the day at $1,629.51 for a total market value of $797 billion. Microsoft, the former number one public valuated company in the world, finished the day out at $784 billion.
A Measured Climb to the Top
Although it shouldn’t be astonishing that Amazon was among the top tech companies on the exchange, it still is.
After all, the company that redefined online shopping spent most of its young years investing in itself rather than giving those dollars to investors. Those that stayed around to see Amazon stock hit the triple, then quadruple, digits believed in Jeff Bezos’ longer term visions enough to accept few returns in those early years.
With the rise of Amazon Web Services (AWS), came the income that the eCommerce retailer desperately needed to stay afloat in earlier days. For a very long time, AWS carried the eCommerce end of the company. Bezos continued to turn profits back into the company, making strategic purchases along the way, including the acquisition of Whole Foods Market for $13.7 billion in 2017.
A Very Different Beast Today
From early years as a online book merchant, to a slim-margined eRetailer held up by nearly invisible Cloud centers, Amazon has managed to reinvent itself again and again as online commerce evolves.
Today, it offers a myriad of products and services meant to appeal to basically everyone on the planet. From those Cloud services that have been the anchor and financial support for the eCommerce operation to branded, house-made products under lines like “AmazonBasics,” there are few sectors that the company hasn’t dominated in, given time.
Amazon Prime, for example, has become a serious contender in the original programming arena. The service offers subscribers more than just free shipping on a wide range of products fulfilled through Amazon. Its Netflix-like streaming service allows users to buy and store video content or to view anything they please without restrictions from a catalog of free content.
The Future of Amazon?
It’s hard to see where the heart of a little online bookseller is within the giant swirling ecosystem of Amazon today.
Just because it’s hard to see, though, doesn’t mean it’s not there. The eCommerce giant is still selling books, after all, and pretty much everything else, including ice cream straight to your door in under two hours. Despite all the success Bezos has seen with Amazon, he seems to be the type that’s never satisfied.
That can be evidenced by things like the expansion of his Amazon delivery fleet as he continues to push the envelope further afield and the reactions of other companies when the name is so much as whispered near their industries.