Walmart has had a wild week. If you’ve been watching the tickers, you know the retail giant isn't just selling milk and socks anymore—it’s acting like a tech darling.
As of Friday’s close on January 16, 2026, Walmart stock today's price sits at $119.70. It actually notched a small gain of about 0.42% to end the week, even though the broader market felt a bit shaky. Honestly, it’s a far cry from where it was a year ago. Back then, the split-adjusted price was hovering around $80, and some skeptics thought the "big box" era was cooling off. Boy, were they wrong.
The stock hit an all-time high of $120.36 just a few days ago on January 13. Since then, it’s been dancing right below that peak, showing a kind of resilience that makes institutional investors drool. We’re talking about a company that now carries a massive market cap of roughly $954 billion. That trillion-dollar club is starting to look very reachable.
The Nasdaq-100 Shift is the Real Story
Why is everyone talking about WMT suddenly? It’s not just the price; it’s the prestige.
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Effective Tuesday, January 20, 2026, Walmart is officially joining the Nasdaq-100 Index. This is a huge deal. They are replacing AstraZeneca, and the move basically signals that the market now views Walmart more as a tech-enabled ecosystem than a traditional retailer. Because Monday is a market holiday (Martin Luther King Jr. Day), all those index-tracking funds are currently scrambling to rebalance.
That’s a big reason why you’ve seen the volume spike to over 410 million shares. When the big passive funds have to buy, the price tends to find a very solid floor.
Breaking Down the Valuation: Is it Too Expensive?
Let’s get real for a second. At $119.70, Walmart is trading at a P/E ratio of about 41.85.
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- The Bull Case: Analysts from firms like Wolfe Research and RBC Capital are still pounding the table with "Outperform" ratings. They’ve even hiked price targets to $130 or $136. They see the "flywheel" working. This is the idea that the low-margin grocery business feeds the high-margin digital advertising and "agentic commerce" businesses.
- The Bear Case: Some folks, like the team at The Motley Fool, are getting a bit nervous. A 41 P/E for a retailer is... a lot. For context, that’s higher than the Nasdaq-100 average. If the AI-powered "Sparky" shopping assistant doesn't continue to drive massive conversion, or if consumer spending hits a wall, that valuation could contract fast.
Basically, you're paying a premium for a "safe haven" that also happens to grow its e-commerce sales at a 27% clip. It’s a weird hybrid.
Recent Performance Snapshot
Historically, the last month has been a steady climb. The stock is up about 3.5% in the last 30 days alone. If you look at the 52-week range, we’ve gone from a low of $79.81 to that recent high of $121.24. That’s a 50% move for a company this size. That just doesn't happen often without a serious fundamental shift.
What's Driving the Numbers?
It’s the tech, stupid. Or at least, that’s what Doug McMillon wants us to believe.
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The integration of Vizio, which they finalized a while back, has turned their "Walmart Connect" advertising arm into a juggernaut. They aren't just selling you a TV; they’re selling the data on what you watch on that TV to advertisers. In Q3 of fiscal 2026, Walmart Connect grew 33% in the U.S. That’s pure profit compared to the pennies they make on a gallon of milk.
Plus, the "trade-down" effect is real. When inflation sticks around 2.7%, even the families making $100k a year start looking for deals. Walmart reported that 75% of their recent market-share gains came from those high-income households.
Actionable Insights for Investors
If you're looking at Walmart stock today's price and wondering if you missed the boat, here is the professional reality:
- Watch the Nasdaq Entry: The first few days after January 20 will be volatile as the index inclusion settles. Don't chase a 5% spike on Tuesday morning.
- Monitor the $110 Support: If we see a market-wide correction, the 50-day moving average is currently around $111.49. That’s the "buy the dip" zone for many technical traders.
- Earnings is the Next Catalyst: The next big report drops on February 19. That will be the first real look at how the holiday season treated their new AI shopping features.
- Dividend Play: It’s still a dividend aristocrat. The yield is modest at 0.78%, but it’s as reliable as a heartbeat.
The bottom line? Walmart has successfully rebranded itself as a tech company that happens to have 10,000 physical warehouses. The price reflects that new identity. While the valuation is historically high, the momentum from the Nasdaq-100 inclusion suggests that "expensive" might just be the new normal for WMT.