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Wells Fargo says Alibaba will be bigger than Wal-Mart.

Stashed in: Walmart, Alibaba, Commerce, Alibaba

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Holy smokes:

Alibaba reported quarterly sales of $2.8 billion, up 45% year-over-year and better than the forecast for sales of $2.6 billion. The company posted adjusted earnings per share of $0.48, also topping expectations for $0.42.

Wal-Mart has a market cap of $250 billion; Alibaba's is $199 billion.

Amazon meanwhile is increasingly about Amazon Prime and Amazon Web Services. Commerce seems to be less important to Jeff Bezos than their subscription services and their technology.

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