Walmart just posted a massive beat with $169.6 billion in revenue (vs. $167.7 billion expected) and raised its full-year forecast again! Their e-commerce growth of 27% is seriously impressive.
As an Indian investor seeking more stability in the US market, I see this as the ultimate defensive play. It feels safer than tech right now.
What do you guys think? Is WMT a buy at all-time highs, or is it getting too expensive?
Recession canceled? If the consumer is strong enough to push WMT to a beat-and-raise, the economy might not be as bad as the doomers say. Or… it just means everyone is broke and forced to shop at Walmart now. 
I think it’s the latter.
On the call, the management specifically mentioned that they are seeing market share gains from upper-income households (making $100k+).
Even the people with money are value-hunting right now, which says a lot about the macro environment.