It’s fair to say a lot of the financial reporting is heavily focused on the movers and shakers in Big Tech. That’s understandable when FAAMG (Facebook, Apple, Amazon, Microsoft, Google) companies account for such a hefty slice of the stock market. At one point in 2020, Forbes reported that those five companies represented around 25% of the total value of the S&P 500, and that they accounted before approximately 76% of the S&P 500’s 23% of gains since 2017. In short, financial reporting leans towards FAAMG companies because they have an outsized impact on the market.
However, it’s easy to forget that some big hitters from the traditional business sector should also be considered tech giants. Walmart, in particular, fits this bill. We think of Walmart as the giant brick-and-mortar retailer, but it launched its first eCommerce platform all the way back in 2000, and only Amazon has more unique … Read the rest