# If American Express moves, who benefits? How far does the value-chain ripple reach?
Canonical: https://valuechain.wiki/american-express · Facet: ripple · Updated: 2026-10-11T16:15:40.657863+00:00 · Source: ValueChain.wiki (cited money-flow graph)

**Citable summary**: Per the valuechain.wiki graph, American Express is directly linked to 4 companies (3 supply, 0 revenue, 1 investment relationships) and reaches 17 companies within two hops; the links are backed by 9 dated sources, 6 of them primary filings (as of 2026-10-11).

American Express runs on the consumer-spending and credit clock. Its shares rose 28.7% in 2023, 60.3% in 2024 and 26.0% in 2025, pricing the spending recovery early, then fell 15.8% in 2026. Its partner layer moved the other way: Delta gained 19.3%, Marriott 9.1% and Hilton 8.5%, so the recipients of partnership payments became the late leaders. Q2 2026 Card Member spending still grew 9%, which argues against a collapse in transaction volume as the cause of the stock decline. Rewards and marketing costs, premium-card competition, credit costs and valuation can break the propagation pattern. Berkshire still owned 22.5%, but its 0.7% 2026 return reflects a separate capital-allocation clock.

## Supply chain (benefiting)
- T1 Delta Air Lines (https://valuechain.wiki/delta-air-lines.md)
- T2 Boeing (https://valuechain.wiki/boeing.md)
- T3 GE Aerospace (https://valuechain.wiki/ge-aerospace.md)
- T3 Korean Airlines (https://valuechain.wiki/korean-airlines.md)
- T3 Moog (https://valuechain.wiki/moog.md)
- T3 Korea Aerospace Industries (https://valuechain.wiki/kai.md)
- T3 RTX (https://valuechain.wiki/rtx.md)
- T3 Thales (https://valuechain.wiki/thales.md)
- T3 Toray Industries (https://valuechain.wiki/toray-industries.md)
- T3 Mitsubishi Heavy Industries (https://valuechain.wiki/mitsubishi-heavy-industries.md)
- T3 TransDigm Group Incorporated (https://valuechain.wiki/transdigm-group.md)
- T3 AMETEK, Inc. (https://valuechain.wiki/ametek.md)
- T3 Honeywell Aerospace Inc. (https://valuechain.wiki/honeywell-aerospace.md)
- T3 PPG Industries (https://valuechain.wiki/ppg-industries.md)
- T2 Airbus (https://valuechain.wiki/airbus.md)
- T3 Voyager Technologies (https://valuechain.wiki/voyager-technologies.md)
- T3 Leonardo S.p.A. (https://valuechain.wiki/leonardo.md)
- T3 ArianeGroup (https://valuechain.wiki/arianegroup.md)
- T3 Parker-Hannifin Corporation (https://valuechain.wiki/parker-hannifin.md)
- T2 Viasat (https://valuechain.wiki/viasat.md)
- T3 SpaceX (https://valuechain.wiki/spacex.md)
- T1 Hilton Worldwide Holdings Inc. (https://valuechain.wiki/hilton-worldwide.md)
- T2 Amazon (https://valuechain.wiki/amazon.md)
- T3 Quanta Computer (https://valuechain.wiki/quanta.md)
- T3 Seagate Technology (https://valuechain.wiki/seagate.md)
- T3 Credo Technology (https://valuechain.wiki/credo.md)
- T3 NVIDIA (https://valuechain.wiki/nvidia.md)
- T3 TSMC (https://valuechain.wiki/tsmc.md)
- T3 Marvell (https://valuechain.wiki/marvell.md)
- T3 SK hynix (https://valuechain.wiki/sk-hynix.md)
- T3 Astera Labs (https://valuechain.wiki/astera-labs.md)
- T3 Alchip Technologies (https://valuechain.wiki/alchip.md)
- T3 SanDisk (https://valuechain.wiki/sandisk.md)
- T3 Foxconn (Hon Hai) (https://valuechain.wiki/foxconn.md)
- T3 Arista Networks (https://valuechain.wiki/arista.md)
- T3 Anthropic (https://valuechain.wiki/anthropic.md)
- T3 Wiwynn (https://valuechain.wiki/wiwynn.md)
- T3 IonQ (https://valuechain.wiki/ionq.md)
- T3 Rigetti Computing (https://valuechain.wiki/rigetti.md)
- T3 D-Wave Quantum (https://valuechain.wiki/d-wave.md)
- T3 Eaton (https://valuechain.wiki/eaton.md)
- T3 Schneider Electric (https://valuechain.wiki/schneider-electric.md)
- T3 GE Vernova (https://valuechain.wiki/ge-vernova.md)
- T3 Vistra (https://valuechain.wiki/vistra.md)
- T3 Quantum Computing Inc (https://valuechain.wiki/qubt.md)
- T3 Talen Energy (https://valuechain.wiki/talen-energy.md)
- T3 Ciena (https://valuechain.wiki/ciena.md)
- T3 Corning (https://valuechain.wiki/corning.md)
- T3 Cerebras Systems (https://valuechain.wiki/cerebras.md)
- T3 Globalstar (https://valuechain.wiki/globalstar.md)
- T3 Cummins (https://valuechain.wiki/cummins.md)
- T3 ABB (https://valuechain.wiki/abb.md)
- T3 Caterpillar (https://valuechain.wiki/caterpillar.md)
- T3 Celestica (https://valuechain.wiki/celestica.md)
- T3 Digital Realty (https://valuechain.wiki/digital-realty.md)
- T3 Nike (https://valuechain.wiki/nike.md)
- T3 Amorepacific (https://valuechain.wiki/amorepacific.md)
- T3 Procter & Gamble (https://valuechain.wiki/procter-gamble.md)
- T3 Fabrinet (https://valuechain.wiki/fabrinet.md)
- T3 Jabil (https://valuechain.wiki/jabil.md)
- T3 Exelon (https://valuechain.wiki/exelon.md)
- T3 Abbott Laboratories (https://valuechain.wiki/abbott-laboratories.md)
- T3 United Parcel Service, Inc. (https://valuechain.wiki/united-parcel-service.md)
- T3 FedEx (https://valuechain.wiki/fedex.md)
- T3 Colgate-Palmolive Company (https://valuechain.wiki/colgate-palmolive.md)
- T3 Norfolk Southern (https://valuechain.wiki/norfolk-southern.md)
- T3 Occidental Petroleum (https://valuechain.wiki/occidental-petroleum.md)
- T3 Entergy (https://valuechain.wiki/entergy.md)
- T3 The Estée Lauder Companies Inc. (https://valuechain.wiki/est-e-lauder-companies.md)
- T3 Ameren Corporation (https://valuechain.wiki/ameren.md)
- T3 Church & Dwight Co., Inc. (https://valuechain.wiki/church-dwight.md)
- T3 Omnicom Group Inc. (https://valuechain.wiki/omnicom-group.md)
- T2 Booking Holdings Inc. (https://valuechain.wiki/booking-holdings.md)
- T3 Alphabet (Google) (https://valuechain.wiki/alphabet.md)
- T3 Trip.com Group (https://valuechain.wiki/trip-com-group.md)
- T1 Marriott International, Inc. (https://valuechain.wiki/marriott-international.md)
- T2 Oracle (https://valuechain.wiki/oracle.md)
- T3 AMD (https://valuechain.wiki/amd.md)
- T3 Bloom Energy (https://valuechain.wiki/bloom-energy.md)
- T3 DTE Energy (https://valuechain.wiki/dte-energy.md)
- T2 Cintas Corporation (https://valuechain.wiki/cintas.md)
- T1 Berkshire Hathaway (https://valuechain.wiki/berkshire-hathaway.md)
- T2 Apple (https://valuechain.wiki/apple.md)
- T3 Samsung Electronics (https://valuechain.wiki/samsung-electronics.md)
- T3 Micron Technology (https://valuechain.wiki/micron.md)
- T3 Broadcom (https://valuechain.wiki/broadcom.md)
- T3 Siemens EDA (https://valuechain.wiki/siemens-eda.md)
- T3 Sony Semiconductor Solutions (https://valuechain.wiki/sony-semiconductor.md)
- T3 Samsung Electro-Mechanics (https://valuechain.wiki/samsung-electro-mechanics.md)
- T3 NXP Semiconductors (https://valuechain.wiki/nxp.md)
- T3 Texas Instruments (https://valuechain.wiki/texas-instruments.md)
- T3 Amkor Technology (https://valuechain.wiki/amkor.md)
- T3 Infineon Technologies (https://valuechain.wiki/infineon.md)
- T3 STMicroelectronics (https://valuechain.wiki/stmicroelectronics.md)
- T3 LG Innotek (https://valuechain.wiki/lg-innotek.md)
- T3 Synopsys (https://valuechain.wiki/synopsys.md)
- T3 Qualcomm (https://valuechain.wiki/qualcomm.md)
- T3 Cadence Design Systems (https://valuechain.wiki/cadence.md)
- T3 Arm Holdings (https://valuechain.wiki/arm.md)
- T3 Murata Manufacturing (https://valuechain.wiki/murata.md)
- T3 Luxshare Precision (https://valuechain.wiki/luxshare.md)
- T3 Fujikura (https://valuechain.wiki/fujikura.md)
- T3 Analog Devices (https://valuechain.wiki/analog-devices.md)
- T3 Alibaba Group (https://valuechain.wiki/alibaba.md)
- T3 LG Display (https://valuechain.wiki/lg-display.md)
- T3 Sunny Optical (https://valuechain.wiki/sunny-optical.md)
- T3 BYD Electronics (https://valuechain.wiki/byd-electronics.md)
- T3 Qorvo (https://valuechain.wiki/qorvo.md)
- T3 Skyworks Solutions (https://valuechain.wiki/skyworks-solutions.md)
- T3 Pegatron (https://valuechain.wiki/pegatron.md)
- T3 Kyocera (https://valuechain.wiki/kyocera.md)
- T3 Take-Two Interactive Software, Inc. (https://valuechain.wiki/take-two-interactive.md)
- T3 Las Vegas Sands Corp. (https://valuechain.wiki/las-vegas-sands.md)
- T2 Itochu (https://valuechain.wiki/itochu.md)
- T3 CITIC Limited (https://valuechain.wiki/citic-limited.md)
- T3 Hitachi Construction Machinery (https://valuechain.wiki/hitachi-construction-machinery.md)
- T2 Mitsubishi (https://valuechain.wiki/mitsubishi.md)
- T3 Mitsubishi Motors (https://valuechain.wiki/mitsubishi-motors.md)
- T2 UnitedHealth Group Incorporated (https://valuechain.wiki/unitedhealth-group.md)
- T3 Walmart Inc (https://valuechain.wiki/walmart.md)
- T3 Labcorp Holdings Inc. (https://valuechain.wiki/labcorp.md)
- T3 Quest Diagnostics Incorporated (https://valuechain.wiki/quest-diagnostics.md)
- T2 The Kraft Heinz Company (https://valuechain.wiki/kraft-heinz.md)
- T3 Microsoft (https://valuechain.wiki/microsoft.md)
- T2 VeriSign, Inc. (https://valuechain.wiki/verisign.md)
- T3 Equinix (https://valuechain.wiki/equinix.md)

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Full node: https://valuechain.wiki/american-express.md · JSON: https://valuechain.wiki/american-express.json