Walmart had been at the top of the Fortune 500 for 13 years.

The risk for Walmart investors is not that the business will suddenly break. It is that anything merely "fine" becomes a problem when the stock is priced for near-perfection. And the bigger reason I wouldn't buy Walmart stock today is even simpler: I'd rather buy Amazon.

Amazon highlights the battle between retailer-owned AI bots such as Rufus and horizontal agents from AI apps ChatGPT and Google Gemini.

Amazon is going big in physical retail. This new Illinois store blends groceries, essentials, and a built-in fulfillment center for faster pickup and fewer

Walmart ’s stock has more than doubled in the past two years, driving its market capitalisation above $1tn. Consumers seeking a reprieve from inflation have sought out its low prices, while the company recently shifted its stock listing to the tech-heavy Nasdaq exchange as it sought to emphasise technology investments including automation and AI.

Walmart has reported another standout quarter as the promise of lower prices and speedy deliveries drew in a broader spectrum of Americans during the critical holiday shopping period, including wealthier households.