Amazon Hits $1 Trillion

i2.cdn.turner.com

Tuesday was worth a trillion for Amazon (AMZN.O).

The enormous e-commerce company just became the second in the U.S. to ever reach such a sum. As per Cheddar, "(Amazon) saw shares rise to $2,050.50 just before noon, putting its valuation just about $100 billion behind Apple, which crossed the line a little over a month ago." As CNN reports, "Amazon and Apple now make up more than 8% of the entire value of the S&P 500." According to Reuters, "(Amazon's stock price more than doubled in a year as it grew rapidly in retail and cloud computing." The company began 2018 with a valuation of $580 billion.

That's trillion...with a "t"zentrade.online

While a $100 billion difference seems significant, experts predict it may not be long before Amazon leaves Apple in the dust… if trillions can be considered a speck. "The stock's 74 percent gain this year is more than double that of Apple, and if shares of both companies keep the same pace, Amazon could close the gap by the end of the year," notes Cheddar.


But the trillion dollar mark for Amazon was short-lived, at least for now. According to The New York Times, the company ended the day (Tuesday) "at $2,039.51, below the $1 trillion threshold."

So, how did Amazon arrive at this this apex? As The New York Times explains, "Amazon captures 49 cents of every e-commerce dollar in the United States. It employs more than 550,000 people and generates $178 billion in annual revenue. Amazon's founder and chief executive, Jeff Bezos, is worth nearly as much as Bill Gates and Warren E. Buffett put together." He has a net worth of more than $150 billion.

A trillion dollar smile i2.cdn.turner.com

To further put things in perspective, "Contrast Amazon with the brick and mortar sector, where 90% of American retail spending still takes place. In order to get to a $1 trillion market cap, you'd have to add up the valuations of the 14 largest big box retailers ranked by 2017 revenues," describes CNN.

As one might expect, reaching $1 trillion isn't something we see every day, but along with Apple and Amazon, it has been done before by China Petroleum. As Cheddar reports, "China Petroleum did so on the Hong Kong exchange back in 2007, but those shares have since plummeted, giving the one-time oil giant a current market cap of around $121 billion."

Ordering is easy images.financialexpress.com

Apple took 38 years to hit $1 trillion, Amazon needed just 21. And Amazon crosses into so many sectors. "Amazon has its fingers in many pies, and it's successful in most of them. On top of its centerpiece online store, it has a thriving cloud services business that includes the likes of AWS, Alexa and Prime Video. It's rapidly expanding its hardware offerings, and you can't ignore the value of Whole Foods," notes Engadget.

As we approach Q4 and end 2018, will Amazon trickle into trillion-dollar territory again? And will they continue to rise? Bezos would bet his bottom dollar.

Related Articles Around the Web
amazon
Subscribe to PayPath Newsletter
PayPath
Follow Us on

How Much Money Do US Politicians Make?

It's easy to forget that the presidency of the United States is a government job just like any other–in that it comes with a stipulated salary and benefits.

But regardless of their bombastic rhetoric or self-serious public image, politicians are like all other government employees. The president, vice president, and legislators earn an annual income from the government in exchange for their duties, which include: executing/circumventing the law, upholding/withholding the civil liberties of American citizens, and legislating/sabotaging how societal institutions meet the needs of citizens, from healthcare to education.

If you've ever wondered what American politicians earn for all their hard work arguing across the aisle and starting Twitter feuds, look no further:

Keep reading Show less
salary

Top 5 Highest Paying Low Stress Jobs

Maybe you've had a high stress occupation before, like social work or stock trading, and fell victim to the high burnout rate of these kinds of jobs.

Or maybe you're just starting your career, and looking for something that won't take over your life but will still provide you with a good living. Whatever reason you have for looking for a high paying, low-stress job, you've come to the right place. We've compiled a list of the top 5 jobs that promise a solid paycheck without taking too much out of you.

Keep reading Show less
high paying low stress jobs

Mortgage Forbearance: What to Know

What do you do when financial hardship hits and you can't make your monthly mortgage payments? This is a question on many homeowner's minds as nearly 17.8 million Americans are reportedly unemployed during the coronavirus pandemic.

When homeowners face financial hardship, such as the loss of a job, they often look to obtain a forbearance agreement from their lender. A forbearance happens when your lender grants you a temporary pause or reduction in monthly payments on your mortgage. Forbearance is not the same as payment forgiveness, in that you still have to pay the entire amount back by an agreed-upon time.

Mortgage lending institutions differ on their mortgage relief policies and qualifications; however, the Coronavirus Aid, Relief, and Economic Security (CARES) Act were signed into law in late March of this year to protect government-backed mortgages.

Federally backed mortgages include:

  • Fannie Mae
  • Freddie Mac
  • The Federal Housing Administration (FHA)
  • The US Department of Veteran Affairs (VA)
  • The US Department of Agriculture (USDA)

Under the CARES Act, homeowners with a federally backed loan who either directly or indirectly suffer financial hardship due to coronavirus automatically qualify for mortgage forbearance.

Even if your mortgage is not secured by one of these agencies, you still can call and see if you qualify, as many lenders will still offer the option in order to avoid foreclosures.

Under the CARES act, homeowners can claim mortgage forbearance due to financial hardship from COVID-19 for up to 12 months without requiring any documentation or verification. During the forbearance period, mortgage lenders cannot charge late fees or penalties.

Additionally, as long as your mortgage is current at the time you claim forbearance, the lender is required to keep reporting your mortgage as paid current throughout the entire period.

At the end of the forbearance, the CARES act protects consumers from having to make a lump sum payment. Instead, you will be given a repayment plan from your provider. Since repayment options vary, it's important you ask your provider about all of your repayment options.

Possible Repayment Options:

You may be eligible for a loan modification at the end of your forbearance. With modification, the mortgage terms are changed in order to add payments that were missed during the forbearance onto the end of the loan, extending the term.

Another option that may work for some is a reduced payment option. This allows you to keep paying monthly payments at a reduced amount. The amount missed is usually added back into the monthly payments at the end of the forbearance.

For example:

Regular payment: $1000 per month

Reduced payment: $500 per month

Payment after forbearance period: $1500 (until caught up)

Balloon payments, or lump sum payments at the end of the forbearance, are prohibited under the CARES Act. However, mortgage lenders may require homeowners who are not protected under the CARES Act to make a balloon payment at the end, so again it is best to check first with your provider.

Mortgage forbearance should only be considered in true financial hardship. In other words, just because of the pandemic, you should not take a forbearance on your mortgage if you can still afford your payments. Likewise, if you are able to start making payments before the forbearance period is up, it's best to do so as soon as possible.

The Next Steps:

Before you get in touch with your mortgage servicer, save time by gathering as much documentation about the mortgage as you can. Also, be ready to list your income and monthly expenses. Due to an influx in calls, financial institutions are experiencing extremely long wait times right now, and having your information at the ready will help.

Have questions ready to ask. Here are some questions you should be asking:

  • What fees are associated with the forbearance?
  • What are all the repayment options available to you at the end of the forbearance?
  • Will you be charged interest during the forbearance period?

If your forbearance is approved, make sure to keep all documentation pertaining to it. Make sure to cancel any automatic payments to the mortgage during the forbearance period, and keep tabs on your credit report to make sure your lender doesn't report the loan as unpaid.


For more information on forbearance, contact your lender and discuss your options. If you need more assistance with understanding your options, you can contact a local agent for the housing counseling agency, or call their hotline at 1-800-569-4287.
Related Articles Around the Web
mortgage forbearance