Becker Business Podcast: Walmart vs. Amazon (10-17-25)

Host: Scott Becker
Date: October 17, 2025

Overview of the Episode

This episode, hosted by Scott Becker, centers on the ongoing competition and divergence between the two retail and e-commerce giants, Walmart and Amazon. Scott provides real-time updates on their financial performance and business strategies, with commentary on recent stock trends, strategic pivots, and notable insider moves in the companies.

Key Discussion Points & Insights

1. Resilience and Growth of Walmart

• Walmart’s Market Leadership:
  • Despite Amazon’s substantial growth and innovation, Walmart remains the number one company by sales in the United States.
  • Scott highlights Walmart’s consistency and ability to outpace Amazon in total sales, characterizing the company as “tremendously resilient.”

    “Walmart remains the number one company by sales in the country ahead of Amazon still.” (00:15)

  • The retailer has robustly grown over the last decade, especially by deepening its e-commerce efforts.

2. Amazon’s Strategic Shift and Challenges

• Moving Towards Tech:

  • Amazon has invested heavily to transform itself into a technology-first company, particularly through Amazon Web Services (AWS).
  • However, growth in AWS is now slowing, and the company is facing increased competition in the technology sector.

    "Amazon made all kinds of efforts to become really a tech company versus a retail company. But as its tech side starts to soften… AWS isn't growing as fast as it was and there's so much competition in that world." (00:30)

• Stock Performance Divergence:

  • Walmart’s stock performance is notably strong, up 21% for the year and reaching an all-time high.
  • In contrast, Amazon’s stock is down 2% for the year, reflecting the diverging fortunes of these business models.

    "Walmart... is up this year 21% and just finished an all time high yesterday. Amazon in contrast, is down 2%." (00:49)

3. Notable Footnotes

• Mackenzie Scott Selling Amazon Shares:

  • Mackenzie Scott, former spouse of Jeff Bezos, has sold 42% of her Amazon shares, sparking interest, though Scott sees no direct link to Bezos but finds it notable.

    "A separate footnote on Amazon. Mackenzie Scott, the former wife of Jeff Bezos, also sold 42% of her shares in Amazon. I don't see it as anything to do with the relationship... just an interesting footnote..." (01:10)

• Personal Reflections on Holdings:

  • Scott shares his own investment perspective, noting he holds Amazon shares directly, does not hold Nvidia or Walmart shares but wishes he did, offering a candid view on personal regrets and aspirations.

    "We hold the Amazon shares directly today. Today where I wish I hold I held Nvidia shares directly and I wish I held Walmart shares directly, but I don't." (01:25)

Memorable Quotes & Moments

• On Walmart’s dogged momentum:

  "Walmart has proven to be tremendously resilient. They've been just incredibly resilient and continued to grow." (00:20)

• On contrasting market performance:

  "Fascinating to watch these two things diverge." (00:52)

• On Mackenzie Scott’s move:

  "I don't see it as anything to do with the relationship with Jeff Bezos, but just an interesting footnote that she's unloaded a lot of her shares as well." (01:15)

Timestamps for Major Segments

• 00:15: Walmart’s current dominance and resilience
• 00:30: Amazon shifting focus to tech, slowing growth in AWS
• 00:49: Walmart vs. Amazon stock comparison (2025)
• 01:10: Mackenzie Scott sells 42% of Amazon shares
• 01:25: Host’s personal investment thoughts

Tone and Style

Scott Becker’s delivery is concise, informed, and conversational. He provides insight with the practical perspective of an investor, mixing fact-based reporting with occasional personal reflection.

Summary

This episode spotlights the ongoing, evolving rivalry between Walmart and Amazon. Listeners are given a succinct, up-to-date look into each company’s strategic pivots and the implications reflected in their financial results. Scott Becker’s observations, including personal anecdotes and brief analysis of insider share sales, add color and context, making the episode valuable for anyone following the business landscape of America’s two retail giants.