The biggest threat to Amazon is likely to be action by government regulatory bodies rather than actions by competitors.

Amazon — like other tech giants like Alphabet Inc.’s Google, Meta’s Facebook and Apple Inc. — faces regulatory scrutiny on several fronts. In Amazon’s case, much of the current attention focuses on allegations that Amazon copies best-selling items of merchants selling on its websites and offers them under its own brands. Amazon ranks No. 1 in the Top 500. Apple ranks No. 3, behind Walmart.