AZ Fortune 500s: Q1 2021

The State of Arizona‘s Fortune 500 incumbents are quickly being replaced by its tech companies. Former “blue chips” are having a tough time keeping up with locally founded tech firms. In 2015, two of the state’s Top 6 companies were in the tech industry (Avnet and First Solar). Today, in 2021, tech has taken four spots with CarvanaMicrochip Technology Inc.ON Semiconductor, and GoDaddy. These companies have a combined market cap of $120 billion!

Who will join these companies and fill out the rankings in 2024? Will it be NortonLifeLockFirst SolarAmkor Technology, Inc.AvnetInsightBenchmark, or Nikola Motor Company? Perhaps a company in the StartupAZ Foundation cohort? Maybe even an attendee at PHX Startup Week?

Even when we talk about the the Arizona’s Fortune 500s, it’s a tech story.