Walmart Stock Plunges 9% Amidst Shift to Apple Pay

Walmart's stock price dropped sharply after the company reported its latest earnings. Despite delivering better-than-expected results and raising its full-year guidance, investors appeared concerned about its outlook, sending the stock lower by around 9%. The decline came from $114.30 to $103.84.

The drop marked the fourth straight earnings day that Walmart's stock had fallen. Despite this, the company continues to perform strongly, with its results showing it remains on track.

Walmart announced that it would begin accepting Apple Pay and Google Pay at its stores and Sam's Club locations starting August 24. This move marks a significant shift for the retailer, which had previously avoided these popular tap-to-pay services.

The company plans to expand the service across all of its stores and clubs by the end of 2026, with the goal of eventually taking it to its fuel stations by mid-2027.