Amazon.com, Inc. (NASDAQ:AMZN) is top of mind for a lot of companies these days, and not in a good way.
As Recode reports, the e-commerce behemoth is scaring the pants off of a growing number of U.S. companies — at least according to its prevalence of mentions in corporate conference calls:
Amazon has replaced Google as the corporate boogeyman. Amazon was mentioned 2,090 times this year on publicly available corporate conference calls (including earnings calls, shareholder meetings, and guidance calls), up 11 percent from last year, according to an analysis of FactSet data, which goes through Oct. 11, 2017. Google (or Alphabet) was mentioned in about 1,500 company conference calls, down 19 percent from 2016.
These companies are on everyone’s lips because it can seem like both have their hands in everything.
Indeed, Amazon seemingly decided not too long ago that it would take on just about every industry on earth. Its AWS cloud computing platform now leads the industry, and this year’s acquisition of Whole Foods turned the entire grocery world upside down.
Amazon’s Echo voice-activated speakers and Alexa platform created a new product category, and still dominate that space. Its low-priced Kindle tablets are incredibly popular, and the company enjoys a growing presence in fashion, food, and household products. Its private label brands are growing by leaps and bounds, with its AmazonBasics batteries, for example, representing the vast majority of online battery purchases.
Google is still big enough to scare a lot of people, but the sheer diversity of Amazon’s offerings are downright terrifying for its competitors — as is its ability to leverage massive amounts of data to drive future product/market fit decisions.
Amazon.com, Inc. shares fell $0.50 (-0.05%) in premarket trading Thursday. Year-to-date, AMZN has gained 32.69%, versus a 15.52% rise in the benchmark S&P 500 index during the same period.
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