"Walmart's market cap was $1.02 trillion at the end of the day Tuesday after its stock climbed more than 28% over the past year, according to CNBC. It joined the Nasdaq exchange, also home to technology companies like Amazon, in December. In the company's third quarter, which ended in October, its global e-commerce business grew 27% year over year, with its Walmart Connect advertising business in the U.S. up 33%, according to its earnings release."
"The valuation milestone further narrows the gap between Walmart and its biggest rival. Amazon's market cap is $2.5 trillion, though the companies have become almost evenly matched on revenue in recent quarters. Walmart made $179.5 billion in revenue in the third quarter to Amazon's $180.2 billion. As the companies have yet to report fourth-quarter earnings, it remains to be seen whether Amazon surpassed Walmart in full-year revenue."
"Still, Walmart CFO John David Rainey said last year that moving to Nasdaq represented the company's long-term, tech-focused strategy. A Walmart spokesperson declined to comment for this story, given that the company is in a quiet period ahead of its next earnings call on Feb. 19. "Walmart is setting a new standard for omnichannel retail by integrating automation and AI to build smarter, faster and more connected experiences for customers, while enabling our associates to deliver even greater value at scale," Rainey said in November."
Walmart achieved a $1.02 trillion market capitalization after its stock rose over 28% in the past year and after moving its listing to Nasdaq. The company's global e-commerce grew 27% year over year in the third quarter, and the Walmart Connect advertising business in the U.S. increased 33%. Third-quarter revenue approached Amazon's, with Walmart at $179.5 billion versus Amazon's $180.2 billion. Company leadership describes the Nasdaq move as part of a long-term, tech-focused strategy emphasizing automation and AI for omnichannel retail. Observers view the valuation as evidence of a strategic shift toward technology-driven operations.
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