Is Walmart the Safest Stock to Own if the Tech Sell-Off Gets Worse?

While Walmart has historically been a defensive stock that outperforms during market downturns, the article argues it may not be the safest choice currently. Despite strong recent performance (up 9% in October, 32% annualized return over 3 years), Walmart's valuation has become stretched at 43x earnings versus its 10-year average of 32x. With earnings growth estimates of only 9-11%, the author contends the high valuation makes it overvalued, similar to tech stocks, making it a risky defensive play if market conditions worsen.