Amazon Just Beat Alphabet to Major Milestone

Retail giant's stock slides over $1K mark
By Newser Editors and Wire Services
Posted May 30, 2017 10:15 AM CDT
FILE - This Thursday, Oct. 2, 2014, file photo, shows the facade of the New York Stock Exchange. U.S. stocks are lower early Tuesday, May 30, 2017, as energy companies once again slump with the price...   (Richard Drew)
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(Newser) – Amazon, the e-commerce giant that has changed how much of the world shops for books, toilet paper, and TVs, hit a new milestone on Tuesday as its stock topped $1,000 for the first time. That price puts Amazon's market value at about $478 billion, reports the AP, double that of rival Walmart and more than 15 times the size of Target. And its four-digit stock price places it in rare company: Only four other US-listed companies have shares that trade above $1,000, and the only other S&P 500 company valued at more than $1,000 a share is Priceline, which traded at about $1,863 on Tuesday. NBC News notes that Amazon beat Alphabet over the $1,000 line. (Read more Amazon stories.)

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