Even as the eruption of artificial intelligence and data center computing trends drives a historic market rally, the top U.S. grocer Walmart (WMT) and club membership leader Costco (COST) have outrun many of the top technology names.
“We really like the discounters, the value retailers,” said Joe Feldman, a retail analyst at Telsey Advisory Group. “As you just saw with the election, the No. 1 issue was the economy. And despite the fact that economic activity is actually quite healthy in the U.S., the majority of Americans think it’s pretty lousy, and they are really struggling to make ends meet and get food on the table.”
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