Should Walmart Really Be Trading Like a Tech Company?

Think tech stocks are expensive? Try Walmart WMT 0.24%increase; green up pointing triangle. 

America’s biggest retailer has become a true investor darling. Its shares have risen about 27% this year, bringing its market value above $900 billion. The stock is now valued at roughly 40 times forward earnings, more expensive on that metric than six of the Magnificent Seven stocks such as Nvidia and Microsoft. Historically, it has traded at a multiple of about 23 times.