New York, February 3, 2026, 11:15 EST — Regular session underway
Walmart (WMT) shares climbed 1.7% to $126.21 in late-morning trading Tuesday, hitting an intraday peak of $126.87. That jump pushed the retailer’s market capitalization over the $1 trillion mark for the first time.
Such a valuation is typically reserved for mega-cap tech firms, not supermarkets or big-box retailers. It also raises fresh expectations: investors are demanding evidence that Walmart can sustain online growth without letting in-store costs spiral.
The situation remains unsettled. A partial U.S. government shutdown has pushed back several important economic reports, forcing traders to focus more on corporate earnings and new signals about consumer spending.
The Bentonville, Arkansas-based retailer has attracted wealthier customers through faster deliveries and increased spending on discretionary categories like apparel and furniture, Reuters noted. Eric Clark of Accuvest Global Advisors described Walmart’s past five years as a “massive digital business transformation,” while Brian Mulberry at Zacks Investment Management called it “the new AI giant.” According to the report, Walmart’s rise has put it in the same valuation tier as Nvidia, Alphabet, and Amazon. Reuters
Walmart climbed $4.28 on Monday, emerging as a key contributor to the Dow’s 525-point surge.
A Form 144 filing dated Feb. 2 revealed that CFO John D. Rainey intends to sell 40,000 shares, valued around $4.77 million, according to a disclosure with the U.S. Securities and Exchange Commission. The filing mentioned the sale is part of a Rule 10b5-1 plan, a prearranged trading program insiders use to set sales in advance.
That said, the stock’s recent surge narrows the margin for error. Any deeper dip in consumer spending on higher-margin discretionary items, or a bigger-than-anticipated hit from delivery and automation expenses, could quickly alter the valuation outlook.
Walmart’s next big moment arrives with its fiscal 2026 fourth-quarter earnings on Feb. 19. The report is expected around 6 a.m. CT, followed by a conference call at 7 a.m. CT. Market watchers will focus on shifts in demand and the impact of automation on margins.
