The Newest Member of the $1 Trillion Club Has Soared 4,755,356% Since Its IPO, and It’s Still a Buy Right Now, According to Wall Street (Hint: Not a Tech Stock)

Once upon a time, the idea of a company’s market cap ascending to $1 trillion was unheard of. Apple was the first publicly traded company in the U.S. to surpass that lofty benchmark, making the grade in 2018. The ranks have swelled in recent years, with an even dozen companies populating the list (as of this writing). Most of those companies are, unsurprisingly, in the tech sector, but the latest to make the grade bucks that trend.

Walmart (NASDAQ: WMT) is the latest company to join the $1 trillion club, and the company needs little introduction. It’s the world’s largest retailer by sales, according to the National Retail Federation.

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It has also been an incredible investment. Since Walmart’s IPO in 1970, the stock has gained 4,755,356% (as of this writing). Those results aren’t part of some distant past, either. Walmart has gained 29% over the past year — more than double the returns of the S&P 500 — and the stock is still a buy right now, according to Wall Street.

Walmart opened its first discount store in 1962, and rivals initially dismissed founder Sam Walton’s focus on low prices. Yet the company’s results speak for themselves. The discount retail chain now has more than 5,200 locations and has earned its place as an e-commerce powerhouse.

One of the things that sets Walmart apart from its brick-and-mortar competitors is the company’s relentless use of technology to achieve its goal of consistently low prices. CFO David Rainey laid out the reasons for its recent move to the Nasdaq index:

Moving to Nasdaq aligns with the people-led, tech-powered approach to our long-term strategy. Walmart is setting a new standard for omnichannel retail by integrating automation and artificial intelligence (AI) to build smarter, faster, and more connected experiences for customers, while enabling our associates to deliver even greater value at scale.

Walmart’s recent results help illustrate its ongoing success. In its fiscal 2026 third quarter (ended Oct. 31), Walmart’s net sales climbed 5.8% year over year to $177 billion, driving adjusted earnings per share (EPS) up 7% to $0.62. Global e-commerce sales climbed 27% and CEO Doug McMillon said Walmart continues to gain market share. U.S. comps increased 4.8%, as transactions climbed 1.8% and the average ticket rose 2.7%.

Management believes there’s more to come. Walmart raised its full-year outlook, guiding for net sales to rise 5% at the midpoint of its guidance, up from its prior forecast of 3.5% growth.