Walmart Inc (NYSE:WMT, XETRA:WMT) reached a historic milestone Tuesday as its market capitalization surpassed $1 trillion for the first time, placing the retailer in a group largely dominated by technology companies.
Shares rose more than 3% to $128, giving the Bentonville, Arkansas-based company a market value of $1.01 trillion.
This milestone comes two weeks after Walmart replaced AstraZeneca in the Nasdaq-100 Index, a tech-focused benchmark featuring the largest non-financial companies listed on the exchange.
Walmart has leveraged its extensive scale and supplier network to maintain low prices while expanding its reach across a wide range of consumer income segments. Walmart’s online offerings have increasingly attracted higher-income shoppers seeking convenience, complementing its long-standing appeal to value-conscious consumers.
The retailer has also made significant investments in digital operations and customer acquisition, efforts that have contributed to a stock increase of more than 14% year-to-date and over 28% in the past 12 months.