Walmart crossed above $1 trillion in market value on Tuesday, becoming the first traditional retailer to hit the milestone and joining a small club mostly made up of technology giants such as Apple and Microsoft. The nation’s largest retailer is known for its supercenters and low prices that have lately pulled in even higher-income consumers. Investors have been drawn to the company’s rapid e-commerce growth in recent years and push into automation and artificial intelligence. Walmart’s stock has climbed about 28 percent over the past year, outpacing the S&P 500 index’s 15 percent gain during the same period. “Walmart management was prescient in building out a business model optimized for this moment,” said Sarah Henry, managing director and portfolio manager at Logan Capital Management, an investment management company. “Their rebuilding recast their image as much as a technology company, as they are a retailer. ” Digital sales have been a major driver of growth lately. Walmart’s e-commerce business includes curbside pickup, same-day delivery and a growing third-party marketplace, while its advertising business has become increasingly important to its bottom line. In its last quarter, Walmart reported a 27 percent increase in e-commerce sales and a 53 percent jump in advertising revenue

Source