Costco's stock price has surged 50% since April last year, pushing its PE ratio from 45x to 62x, despite modest sales and earnings growth. Click here to read.

With strong growth and a resilient business model, buying or holding Costco stock ahead of its Q2 earnings could be a wise move.

Costco continues to execute at a high level despite the difficulties that other retailers have been facing. The club store's business model is a huge advantage, as is its scale. Wall Street knows exactly how well Costco is doing today.