Top 5 Most Valuable American Companies Today

4. Amazon.com, Inc. (NASDAQ:AMZN)

Market cap as at 27th October 2023 (in $ billions): 1,320

The most valuable retailer in the world, Amazon.com, Inc. (NASDAQ:AMZN) saw its share price jump by nearly 50% YTD 2023.

Diamond Hill Capital shared its thoughts on Amazon.com, Inc. (NASDAQ:AMZN) in its Q2 2023 investor letter:

“Among our top contributors were insurance company American International Group (AIG), auto retailer CarMax and global online retailer Amazon.com, Inc. (NASDAQ:AMZN).

Amazon’s management team has been working to improve retail profitability, and Q1 results showed progress. In the case of Amazon’s web services (AWS), the market has shifted its focus from where growth will bottom in the near term to how AI can help accelerate the adoption of public cloud services in the future. We believe Amazon’s competitive advantages will continue to grow and that the business has the potential to grow faster than the overall economy in the coming years.”