Investors Are Paying More for Walmart Than Amazon. Here’s Why That Doesn’t Add Up.

Walmart Inc. (NASDAQ:WMT) has opened a fulfillment center of more than 900,000 square feet in Stockton, California. The site uses automation and machine learning to cut the usual 12-step order process down to five. It will also employ about 1,000 people. The company says its next-generation fulfillment centers, of which Stockton is the fifth, will enable it to reach 95% of the U.S. population with next-day or two-day shipping when combined with the rest of its network. The stock closed more than 2% higher on October 8, its fourth straight gain. Beyond its push for faster delivery, Walmart's defensive appeal remains a key attraction for investors.