Walmart CEO Doug McMillon held a meeting with US President-elect Donald Trump on Tuesday at Mar-a-Lago. The two met to discuss a wide range of topics, including investing in the U.S., trade relations, and innovation. The meeting fueled investor interest in Walmart stock (WMT), which was already one of the top companies on the market last year.

The nation’s largest private employer did not offer more details beyond that “It was a great conversation.” “We stand ready to help move our country forward,” a Walmart spokesperson told FOX Business. McMillon and Trump previously worked together during Trump’s first term, so the two aren’t unfamiliar. McMillon served as chairman of the Business Roundtable under Trump’s presidency.

Entering 2025, Walmart Stock is poised for another big year of gains. In the last 365 days, WMT has risen 75%. Additionally, over the last year, net income at Walmart has increased 910%, with its earnings per share up 913%, according to CNN data. With 90% of analysts giving the stock a buy rating, it holds a high-end price target of $110, 20% above its current price.

How Could Trump Presidency Affect Walmart stock?

Donald Trump’s latest proposed tariffs could affect many big businesses like Walmart, which is already the nation’s largest private employer. Business executives from companies including Walmart, Dollar Tree, and Costco have raised alarms about the impact these tariffs could have on businesses and inflation. Under Trump’s proposals, a universal 10% to 20% tariff would be imposed on imports from all foreign countries, and additional tariffs of 60% to 100% would be imposed on imports from China. Trump also said he would issue an executive order upon taking office to charge Mexico and Canada a 25% tariff on all products coming into the U.S.

Also Read: Walmart: Why WMT is Predicted to Outperform Amazon in 2025

With ad revenue likely to grow and more investments due, 2025 should bring a record growth pace for Walmart and its stock. Moreover, it emerges as the leader in all department store offerings in the country. The company is also becoming very competitive with Amazon as it offers more items online and grows its third-party seller marketplace. It’s working on generative AI-powered chatbots to make the retail website more responsive and personalized. It’s also leaning into same-day delivery and online shopping. Walmart has begun using drone delivery in the Bentonville area and has ambitions to bring that to life in more towns. Such an investment in technology + AI could reap huge benefits for the company.