Sarah Henry calls it “a very exciting time in retail,” highlighting frictionless AI shopping. “Agentic AI is going to predict what you’re going to buy, and what you want to buy,” she says, arguing that it will really expose the “haves and have nots” in the sector. She likes Walmart (WMT), highlighting its “incredible quarter” and how it continues to move into technology. For holiday shopping, she expects computers, smartphones, and tech devices to be big this year. She is also seeing an uptick in “affordable indulgences” in the younger generation who are priced out of major purchases like homes.