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Amazon hits $1 trillion in market value a month after Apple

Image: Tech And Media Elites Attend Allen And Company Annual Meetings In Id
Jeff Bezos, chief executive officer of Amazon, arrives for the third day of the annual Allen & Company Sun Valley Conference, on July 13 in Sun Valley, Idaho.   -  
Drew Angerer Getty Images file
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It didn't take long for Apple to have some company.

Amazon on Tuesday became only the second publicly traded U.S. company to reach a market value of $1 trillion, hitting the mark almost exactly a month after Apple became the first.

Amazon has emerged as one of the most dominant companies in the world, having become the leading ecommerce retailer as well as one of the leading cloud computing providers. The company has also become something of a corporate boogeyman, able to send shares in other companies spiraling if Amazon hints at entering their industries.

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