Alibaba (BABA) Passes Wal-Mart (WMT) Market Cap

Alibaba Group Holding Ltd (NYSE:BABA) is again making a name for itself as it is nipping at and surpassing the market capitalization of U.S. retail giant Wal-Mart Stores, Inc. (NYSE:WMT), Betty Liu and company discuss on Bloomberg’s In The Loop.

As of press time, Alibaba Group Holding Ltd (NYSE:BABA) and Wal-Mart Stores, Inc. (NYSE:WMT) are both near the $250 billion mark in market capitalization with the Chinese electronic commerce juggernaut having the upper hand.Matt Miller said that Alibaba Group Holding Ltd (NYSE:BABA) is “almost kind of a prince” of the retail industry as it surpassed the market capitalization of Wal-Mart Stores, Inc. (NYSE:WMT). This was in reaction to Liu saying that the company is the new king of the industry.

Furthermore, Miller noted that Alibaba Group Holding Ltd (NYSE:BABA)’s share price got a boost from Apple Inc. (NASDAQ:AAPL) CEO Tim Cook saying at the Wall Street Journal Digital conference that he loves to partner with people like Jack Ma. Ma, the founder and top executive of Alibaba, was also not short on praises for Apple and Tim Cook.

As an effect of the exchange of praises, people are venturing that Alibaba may partner with the iPhone maker especially through the Apple Pay system.

Meanwhile, Mia Saini said that it’s only a matter of time for Alibaba Group Holding Ltd (NYSE:BABA) to go even higher than the level it has now as it surpasses Wal-Mart Stores, Inc. (NYSE:WMT). She said that conversations with analysts bring forth points like the readiness of the Chinese electronic commerce company to make deals and its massive hoard of cash.

Wal-Mart Stores, Inc. (NYSE:WMT) shareholders includes Warren Buffett’s Berkshire Hathaway with a stake comprised of about 58.8 million shares of the company by the end of the second quarter.