The U.S. holiday shopping season is now underway, and retail stocks are in focus. Early data points to steady demand. The National Retail Federation expects November and December retail sales to grow 3.7% to 4.2% from last year. Online spending has also picked up, rising about 7.5% year over year from November 1 to mid-November, based on industry data.
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At the same time, Salesforce (CRM) data shows online orders over the Thanksgiving period are on pace to grow around 6% as shoppers respond to deals from Amazon (AMZN), Walmart (WMT), and other large retailers. This suggests U.S. consumers remain willing to spend, even with tariff pressure and a softer economy. Using TipRanks’ Stock Comparison Tool, we compared Amazon and Walmart to see which stock analysts find more attractive at this stage of the holiday season.
Amazon (NASDAQ:AMZN) Stock
Amazon shares recently touched a 52-week high of US $258.60 on November 3, 2025. Since then, the stock has retreated, trading around US $229–$230 as of last close, roughly 10–15% below that peak. The recent drop comes even though the company posted impressive third-quarter results. Its cloud unit, Amazon Web Services (AWS), continued to show solid growth, which helped ease concerns about rising spending in AI and infrastructure.
Amazon began its Black Friday sales on November 20, with deals running through Cyber Monday on December 1. The offers cover electronics, home items, beauty, and daily essentials, with many early discounts already live.
With the holiday shopping season now underway, investors will watch to see whether early demand and strong online traffic help the stock regain momentum.
Walmart (NYSE:WMT) Stock
Walmart shares moved higher as the holiday shopping period kicks off. The stock hit a new record this week, trading up to $109.58 on November 26. Shares rose more than 2% during the day as investors looked ahead to strong holiday spending.
Walmart began its Thanksgiving and Black Friday deals on November 14, giving shoppers more time to buy. Some of the key offers include an 85-inch Roku (ROKU) TV cut from $678 to $498, and a Blackstone outdoor grill lowered to $157 from $224. Walmart is also offering discounts on toys, clothes, home items, and small appliances.
Shoppers are looking for lower prices and waiting for deals before buying. With this in mind, Walmart’s early pricing strategy may help draw more buyers both online and in stores through the holiday season. Investors will now watch to see if these deals lead to higher traffic, stronger sales, and solid results for the fourth quarter.
AMZN or WMT: Which Stock Offers Higher Upside, According to Analysts?
TipRanks’ Stock Comparison Tool shows strong analyst confidence in both Amazon and Walmart as the holiday season begins. Both stocks carry a Strong Buy analyst consensus.
Amazon’s average analyst price target sits at $295.23, which points to about 28.8% upside. Meanwhile, Walmart’s average price target of $121.92, suggests about 11.8% upside.
