I mentioned yesterday that Amazon’s stock went up 4.21 points (or 1.8%) on the day. With that gain, the company has reached the mega milestone of being a $100 billion company.
The valuation is based on the company’s market value (aka market cap), which is the number of shares of stock that are out there for the company, multiplied by the stock price. When the market closed on Thursday, Amazon was valued at $102.94 billion (it’s currently at $106.40 billion!), making it the second $100 billion dollar company in Washington state (after Microsoft, of course).
Here’s a Financial Times’ list of the 500 most valuable companies in the world, but is based on data from March 31, 2011. At that time, Amazon was #77 on the list with a market value of $81.24 billion. Thats a monumental leap of more than 26% in just six months.
Where’s all that growth coming from? Well, Amazon’s sales grew 51% in the second quarter of 2011. Its cloud computing division is growing exponentially. And the company continues to sell approximately a bajillion Kindles and ebooks every millisecond (rough estimate). And then we’ve got the hotly anticipated Amazon tablet coming out sometime this quarter to top it all off.
Although Amazon is dominating everyone’s face off, it has a long way to go before becoming the most valuable company in the world. That spot is currently being grappled over between Apple and Exxon Mobil. As of the time of writing this, Apple’s market cap is $370.09 billion and Exxon’s is at $360.38 billion.