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Conglomerates are companies that hold unrelated businesses. Berkshire Hathaway is a conglomerate. Railroads and car insurance in the same company!

Standard oil and AT&T were not broken up because they were conglomerates. They were broken up because they were monopolies in single (or closely related) markets.

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The reason for Standard Oil's success was not specialization so much as expanding into every single business that could possibly affect the price of oil. Their ability to boss around railroads, and their eventual direct investment in railroads themselves, certainly calls Amazon shipping to mind.

Further, AT&T was a government granted monopoly in the first place.

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