This week, Amazon became the world’s most valuable publicly traded U.S. company for the first time, passing tech giant Microsoft which had taken over the top spot in late 2018.
Ray Wimer is an assistant professor of retail practice at Syracuse University’s Whitman School of Management. Wimer says Amazon Web Services is a big driver for profits in the technology space, but thinks it’s unlikely another online retail company will move into the top spot,
Wimer says:
“Amazon makes most of their money and most of their profits in the technology space. The biggest driver is Amazon Web Services.
“I think it is unlikely that other online retail companies (that also have technology components) move into the top spot. Alibaba as roughly half the market cap right now of Amazon and Walmart has a quarter of the market cap of Amazon. These would be the likely leaders to join. Retail is a very tough business on margins and this is something that investors look for.
“Walmart is near the top of the Fortune 500 based on revenue year after year but the margins are small compared to a company like Apple or Exxon-Mobile.”
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