Walmart joins the trillion-dollar stock club
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Illustration: Aïda Amer/Axios
Walmart's stock climbed roughly 1% on Tuesday morning, vaulting the world's biggest retailer into the trillion-dollar market valuation club.
Why it matters: The stock gain is an affirmation of both Walmart's status as the biggest shopping destination in the trade-down economy and its transformation into an online powerhouse.
Zoom out: Walmart has thrived despite the challenges of higher costs as a result of inflation and Trump's tariffs.
- E-commerce sales rose 28% in the U.S. in the third quarter, and 27% worldwide.
- The company says it now expects net sales for its fiscal year to rise 4.8% to 5.1% from $674.5 billion the previous year.
- It first reached $1 billion in sales in 1980 — just 18 years after opening its first store in Rogers, Arkansas.
- Walmart says it now has nearly 10,800 stores and Sam's Clubs in 19 countries.
Zoom in: Shares of Walmart have also benefited from its move from the New York Stock Exchange to the more tech-focused Nasdaq in December.
- "Moving to Nasdaq aligns with the people-led, tech-powered approach to our long-term strategy," Walmart's chief financial officer, John David Rainey, said when the move was announced.
By the numbers: In addition to Walmart, the current U.S. members of the trillion-dollar club are:
- Nvidia ($4.5 trillion market cap)
- Alphabet ($4.2 trillion)
- Apple ($3.9 trillion)
- Microsoft ($3.1 trillion)
- Amazon ($2.6 trillion)
- Meta ($1.8 trillion)
- Broadcom ($1.6 trillion)
- Tesla ($1.3 trillion)
- Berkshire Hathaway ($1.1 trillion)
