Along with competing for partnerships with hospitals and health systems, big tech companies have sought out different strategies and products to compete with one another.
Amazon, the leading online retail giant and an emerging competitor in the healthcare space, had an impressive fourth quarter earnings report, which ended Dec. 31, 2019. The company's sales topped $87.4 billion, up 21 percent year over year, and as a result, Amazon market cap surpassed $1 trillion.
With its longstanding in the tech and healthcare space, Microsoft reported a 14 percent increase in revenue, totaling $36.9 billion, in its fiscal year 2020 financial report for the second quarter ending Dec. 31, 2019. Microsoft's cloud business saw the most growth at 27 percent year over year. For the quarter, the company reported revenue of $11.9 billion.
Tim Cook, Apple's CEO, has also touted the company's success in the healthcare market as a reason for its all-time high revenues, which topped $91.8 billion, in the fiscal first quarter of 2020. However, the company projects its upcoming quarter revenue to be between $63 billion to $67 billion because of lower global iPhone supply and lower Chinese demand tied to the coronavirus outbreak.
Turning itself around, IBM experienced incremental growth in the fourth quarter of 2019 after more than a year of declining revenues. In the fourth quarter, IBM reported revenue of $21.8 billion, a year-over-year increase of 0.1 percent.