Walmart associates celebrate during the opening bell ceremony at the Nasdaq Market to celebrate the company’s listing transfer, in New York City, U.S., December 9, 2025.
Brendan McDermid | Reuters
Walmart crossed the $1 trillion market cap threshold on Tuesday after a dizzying stock climb fueled by the growth of digital businesses and the acquisition of new customers.
In hitting the benchmark, the largest U.S. retailer and grocer joins an exclusive club made up almost entirely of technology companies.
Walmart’s stock has climbed more than 24% in the past year, and more than 11% so far in 2026. That has outpaced the nearly 16% and 2% gains in those timeframes, respectively, for the S&P 500.
The retailer’s inclusion in a group heavy on tech companies illustrates much about its ambitions. Walmart has tried to grow profits faster than sales in recent years by leaning into its third-party marketplace and advertising businesses — both of which bring higher margins than its traditional brick-and-mortar operations.
The boom in its online selling platform followed the path of key rival Amazon. And Walmart put out the clearest signal yet of its tech ambitions when it listed on the tech-heavy Nasdaq 100 last month.
The milestone comes only days into the tenure of new Walmart CEO John Furner, who took the position on Sunday. He replaced longtime chief executive Doug McMillon.
As CEO of Walmart’s U.S. business, Furner oversaw many of the key initiatives that drove the retailer’s growth in recent years. Efforts like curbside pickup and better private-label brands helped the discounter draw higher-income shoppers as elevated inflation bit into grocery budgets.
For its fiscal 2026 third quarter reported in November, Walmart said revenue rose 5.8%, boosted by a 27% jump in e-commerce sales and 53% growth for its advertising business. Walmart said it expected sales growth of 4.8% to 5.1% for its full fiscal year.
The company is expected to post fourth-quarter earnings later this month.
