- Walmart and Alphabet unit Wing will expand Walmart’s drone delivery network to reach more than 40 million Americans.
- The plan calls for over 270 drone delivery locations by 2027 and adds service in Los Angeles, St. Louis, Cincinnati, and Miami.
- “Drone delivery plays an important role in our ability to deliver what customers want, exactly when they want it,” said Greg Cathey of Walmart.
- Walmart shares rose nearly 4% on the news, while Alphabet shares were up a fraction of a percent.
- Analysts note strong momentum for Walmart, including Nasdaq-100 inclusion and a BTIG buy rating with a $120 price target; Tigress Financial projects $130.
Walmart and Alphabet’s drone unit Wing have agreed to expand Walmart’s drone delivery service, enabling more than 40 million Americans to receive drone deliveries. The program will build a network of over 270 drone delivery locations by 2027 and will add operations in Los Angeles, St. Louis, Cincinnati, and Miami, with additional sites to be announced.
The companies said the expansion aims to speed up last-minute deliveries for customers and broaden Walmart’s digital fulfillment options. Shares of Walmart rose nearly 4% on Monday after the announcement, while Alphabet stock gained a small fraction of a percent.
“Drone delivery plays an important role in our ability to deliver what customers want, exactly when they want it,” said Greg Cathey, senior vice president of Digital Fulfillment Transformation at Walmart. Wing began in Google’s labs in 2012 and became an independent Alphabet business in 2018.
Market context has favored Walmart recently, with the company set to join the Nasdaq-100 Index and shares rallying more than 6% year-to-date. Analysts at BTIG issued a buy rating with a $120 price target, noting Walmart’s integrated digital and physical strategy, and Tigress Financial has a $130 projection. Shares were trading above $118 at the time of the report.
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