Amazon reaches $1T valuation

Amazon's valuation hit $1 trillion Sept. 4, making it the second publicly traded U.S. company to reach the mark after Apple did the same in early August, according to CNBC.

Shares of Amazon rose almost 2 percent to reach a high of $2,050.50, and needed a price of $2,050.27 for the company's valuation to reach $1 trillion.

Amazon stock has more than doubled in the past year and has risen over 70 percent in 2018, compared to an 8 percent gain in the S&P 500 since the beginning of 2018.

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