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In 2007, PetroChina Company's market cap surpassed the $1-trillion mark though the Chinese company's complex structure ensured that most of the shares stayed with the government, The Wall Street Journal reported.

Amazon is the second corporation to exceed $1 trillion in value after Apple, which crossed the threshold on August 2.

It crossed the line at 16:40 BST before falling back slightly.

Ben Barringer, an equity research analyst at Quilter Cheviot, said Amazon still has a long to way go, which means it could end up bigger then Apple.

The firm is expected to account for roughly half of all online shopping sales in the USA this year - and almost 5 percent of the country's overall retail market, according to research firm eMarketer.

One of Amazon's revenue drivers is its Prime subscription service which offers streaming video and music, free delivery and other perks and which has more than 100 million members worldwide.

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It's official: Amazon is the second USA company to achieve a valuation of more than $1 trillion.

Achieving the valuation marks the latest chapter in an astonishing story of growth for the company, founded by businessman Jeff Bezos in Seattle, Washington, in 1994.

Amazon has briefly become the second US-listed firm to have a market value of more than $1 trillion (£779bn). The company's valuation has been teasing around the $1 trillion for a little while now, though all of that wait finally finished once the share price hit $2050.50.

'The difference between the two is that Amazon has room to grow within its two main businesses.

"We continue to aspire to be Earth's most customer-centric company, and we recognize this to be no small or easy challenge".