Summary3 min read

WSJ Tech News Briefing: Tech Minute — Amazon Surpasses Walmart as America’s Biggest Company

Date: February 20, 2026
Host: Julie Chang (The Wall Street Journal)

Episode Overview

In this Tech Minute edition, Julie Chang breaks down three major tech stories of the day:

Amazon overtaking Walmart as America's largest company by revenue
Apple’s imminent foray into AI-powered smart glasses and the market implications for eyewear giant EssilorLuxottica
A former Google employee indicted for allegedly stealing Pixel phone trade secrets, reflecting the rise in federal trade secret cases

Key Discussion Points & Insights

1. Amazon Becomes the Largest American Company

Timestamps: 00:22 – 00:54

Amazon has officially surpassed Walmart in annual revenue, with $717 billion compared to Walmart's $713 billion (as of end of January).
- Julie Chang (00:25): “Amazon is now the country's largest company by revenue, surpassing Walmart.”
Walmart had anticipated this for years and has shifted its strategic focus from growth and being the largest, to being “America’s favorite place to shop.”
- Julie Chang (00:37): “Walmart leadership prepared for years to lose the title, shifting its focus to becoming America's favorite place to shop over being the biggest or growing fast.”
Both companies did not comment on the revenue change.
Amazon highlighted their superior delivery speeds in 2025.
- Julie Chang (00:54): “An Amazon spokeswoman highlighted the company’s fast delivery speeds in 2025.”

2. Apple’s Entry into Smart Glasses Market

Timestamps: 00:54 – 01:29

Apple is expected to begin production of its own AI-powered glasses by the end of the year.
- Julie Chang (01:12): “Apple is gearing up to begin production of its own model of AI powered glasses as early as the end of this year.”
This news negatively impacted shares of EssilorLuxottica, the Franco-Italian eyewear giant and Meta’s partner for smart glasses.
Despite market jitters, a Stifel analyst views Apple's entry as a way to rapidly grow consumer awareness and expand the total addressable market, rather than as a direct threat to EssilorLuxottica.
- Julie Chang (01:22): “But the analysts said an entry by Apple and other tech firms into the market should speed up consumer awareness and expand the total addressable market.”

3. Former Google Employee Indicted for Trade Secret Theft

Timestamps: 01:29 – 02:08

A former Google hardware engineer (2019–2023) has been indicted for allegedly stealing trade secrets related to Pixel phones.
- Julie Chang (01:31): “A former Google employee accused of stealing trade secrets related to the company's Pixel phones was indicted yesterday.”
The employee, along with her husband and sister, faces six theft-related charges.
This is the third high-profile Google trade secrets case in recent years, per Lex Machina.
- Reflects a broader trend: Federal trade secret cases in the US increased by 20% last year, reaching around 1,500—the highest in at least a decade.
- Julie Chang (01:52): “Federal trade secret cases in the US rose 20% last year to around 1,500, the highest figure in at least a decade.”

Notable Quotes & Memorable Moments

Julie Chang (00:25): “Amazon is now the country's largest company by revenue, surpassing Walmart.”
Julie Chang (00:37): “Walmart leadership prepared for years to lose the title, shifting its focus to becoming America's favorite place to shop over being the biggest or growing fast.”
Julie Chang (01:12): “Apple is gearing up to begin production of its own model of AI powered glasses as early as the end of this year.”
Julie Chang (01:22): “An entry by Apple and other tech firms into the market should speed up consumer awareness and expand the total addressable market.”
Julie Chang (01:52): “Federal trade secret cases in the US rose 20% last year to around 1,500, the highest figure in at least a decade.”

Timeline of Key Segments

00:22 – 00:54 | Amazon surpasses Walmart as America's largest company
00:54 – 01:29 | Apple’s anticipated launch of AI smart glasses and impact on EssilorLuxottica
01:29 – 02:08 | New trade secret indictment for a former Google engineer; general trend of rising tech IP theft lawsuits

Summary:
Today’s Tech Minute underscores a major shift in the US corporate landscape with Amazon’s rise, previews a potential shakeup in the connected eyewear market with Apple’s smart glasses ambitions, and highlights the intensifying battle over tech intellectual property in American courts.

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Transcript26 lines

[00:00]
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[00:17]
TNB Tech Minute Host
Here's your morning TNB Tech minute for Friday, February 20th.
[00:20]
Julie Chang
I'm Julie Chang for the Wall Street Journal.
[00:23]
TNB Tech Minute Host
Amazon is now the country's largest company
[00:25]
Julie Chang
by revenue, surpassing Walmart. Walmart reported around $713 billion in sales in the year through the end of January, about $4 billion lower than Amazon.
[00:36]
TNB Tech Minute Host
People familiar with the matter say.
[00:38]
Julie Chang
Walmart leadership prepared for years to lose the title, shifting its focus to becoming America's favorite place to shop over being the biggest or growing fast. Both companies declined to comment on the revenue change, but an Amazon spokeswoman highlighted the company's fast delivery speeds in 2025.
[00:55]
TNB Tech Minute Host
An Apple foray into smart glasses should be seen as a boon for Essler Exotica and not a threat to its
[01:01]
Julie Chang
position in the booming category.
[01:03]
TNB Tech Minute Host
That's according to an analyst at Stifel.
[01:05]
Julie Chang
Shares in the Franco Italian eyewear giant took a hit this week over a report that Apple is gearing up to
[01:11]
TNB Tech Minute Host
begin production of its own model of
[01:13]
Julie Chang
AI powered glasses as early as the end of this year.
[01:16]
TNB Tech Minute Host
That could create a rival to Essler
[01:18]
Julie Chang
Luxottica's models in partnership with tech giant Meta.
[01:21]
TNB Tech Minute Host
But but the analysts said an entry
[01:22]
Julie Chang
by Apple and other tech firms into the market should speed up consumer awareness and expand the total addressable market and
[01:30]
TNB Tech Minute Host
a former Google employee accused of stealing
[01:32]
Julie Chang
trade secrets related to the company's Pixel phones was indicted yesterday. The employee worked as a hardware engineer for the company from 2019 to 2023. She was charged with six theft related charges and her husband and sister were also indicted on similar charges. Companies are facing increased security threats in an era of rapidly evolving technology. The Google case is the third high profile incident in recent years involving misappropriation of the company's trade secrets, according to data provider Lex Machina. Federal trade secret cases in the US rose 20% last year to around 1,500, the highest figure in at least a decade.
[02:09]
TNB Tech Minute Host
And that's your TMB Tech minute.
[02:11]
Julie Chang
We'll be back this afternoon with more
[02:13]
Xfinity Mobile Announcer
Team USA races ahead.
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Xfinity Mobile Advertiser
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Xfinity Mobile Announcer
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[02:29]
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