Chart of the Day 📈 2/4/26: Walmart Tops $1 TLN as Rotation Gathers Steam

Mike Larson | Editor-in-Chief

A new company just hit the $1 trillion market capitalization milestone…and it isn’t a Big Tech name based in Silicon Valley. It’s an old-school retailer headquartered in Bentonville, Arkansas. Welcome to the club Walmart Inc. (WMT)!

Yesterday’s rally above $128 pushed Walmart into the rarefied air of trillion-dollar companies – with its market cap hitting $1.02 trillion. It now sits just behind Berkshire Hathaway Inc. (BRK.B) at $1.06 trillion…and just ahead of Eli Lilly & Co. (LLY) at $898 billion.

Of course, the biggest US-traded companies are still in the technology sector. Nvidia Corp. (NVDA) is the champ at $4.3 trillion, followed by Alphabet Inc. (GOOGL) at $4.1 trillion. But the MoneyShow Chart of the Day speaks volumes about the rotation underway! It shows the percentage gain in market cap year-to-date. WMT has gained almost 15%, while NVDA has lost just under 4%.

In Market Cap Race, Walmart Taking the Lead

You can see evidence of rotation all over the markets, too. Small caps are beating big caps. “Sleeper” sectors are beating the S&P 500 Index (^SPX). Groups like materials and industrials are outpacing tech. And if some MoneyShow experts are right, this will be THE market story for 2026.

So, welcome to the club Walmart. We’ll see who else makes it past the trillion-dollar velvet rope this year. If recent trends continue, it might NOT be another tech titan.

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• IWM & QQQ: Where Things Stand After Recent Bout of Volatility
  👉️ TICKERS: QQQ, IWM

  Despite all the recent volatility and the heavy selling in precious metals last week, market breadth was only slightly negative on the Nasdaq and NYSE. Stock market volatility is likely to continue, but support levels remain intact on the major averages, observes Bonnie Gortler, CEO of BonnieGortler.com.

• PLTR: What Traders Should Know About its Blockbuster Results

  👉️ TICKER: PLTR

  January was a month of rotation: Tech and financials lagged while energy, materials, and staples outperformed. Meanwhile, Palantir Technologies Inc. (PLTR) just jumped after sales and profit came in above expectations and the tech defense contractor forecasted 61% topline growth for the year, highlights Amber Kanwar, host of the In the Money with Amber Kanwar podcast.

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