2024 Half-Year Recap | Top Performing Stocks: SMCI, NVDA and AI Supply Chain Stocks Are Listed
Looking back at the first half of 2024, the AI frenzy continued, and the US stock market soared, with the $NASDAQ 100 Index(.NDX.US$ and $S&P 500 Index(.SPX.US$ indices repeatedly hitting all-time highs. Notably, the battle among the top three tech giants persisted, with $NVIDIA(NVDA.US$overtaking $Microsoft(MSFT.US$ and $Apple(AAPL.US$ on Tuesday as the most valuable company in the world.
$Super Micro Computer(SMCI.US$ is undoubtedly one of the most stellar performers in the first half of the year. This artificial intelligence (AI) server maker has gained three-fold year-to date, as the company benefits from broad optimism about AI-fueled demand.
$NVIDIA(NVDA.US$, the 'front-runner' in the AI chip industry, also saw its stock surge by over 170% year-to-date amidst the AI boom.
Aside from these two hot AI stocks, the AI ecosystem has also spread across various sectors:
McKinsey predicts that power consumption in US data centers will increase from 17 gigawatts (GW) in 2022 to 35 GW in 2030. Electric utility stocks $Vistra Energy(VST.US$ and $Constellation Energy(CEG.US$ have seen their value increase by 129% and 89% year-to-date, respectively.
Nvidia's liquid cooling supplier, $Vertiv Holdings(VRT.US$, has seen its stock price soar nearly 100% since this year.
Benefiting from the surging interest in the AI PC concept, $Dell Technologies(DELL.US$ has seen its stock price nearly double year-to-date.
![2024 Half-Year Recap | Top Performing Stocks: SMCI, NVDA and AI Supply Chain Stocks Are Listed](https://ussnsimg.moomoo.com/sns_client_feed/77777017/20240619/382fc8784f744091a29c8dfc29d18ccd.png/big?area=100&is_public=true)
It is noteworthy that the trajectory of this year's tech giants, referred to as the Magnificent Seven or "Mag7," has shown divergence.
$NVIDIA(NVDA.US$ ranks among the top in the YTD gainers' list, with $Meta Platforms(META.US$ having risen over 40% year-to-date, and $Alphabet-A(GOOGL.US$ and $Amazon(AMZN.US$ both increasing by over 20%. While $Tesla(TSLA.US$ has fallen behind this year, recording a 25% drop year-to-date.
Apart from the “Magnificent Seven”, semiconductor leaders $Taiwan Semiconductor(TSM.US$ and $Broadcom(AVGO.US$ have repeatedly reached all-time highs this year. The weight-loss drug stocks, $Eli Lilly and Co(LLY.US$ and $Novo-Nordisk A/S(NVO.US$ , have also posted notable gains, with increases of over 50% and 37% YTD, respectively.
![2024 Half-Year Recap | Top Performing Stocks: SMCI, NVDA and AI Supply Chain Stocks Are Listed](https://ussnsimg.moomoo.com/sns_client_feed/77777017/20240619/4ea6dc78c5aa4e32b43167f0d1ee3eb7.png/big?area=100&is_public=true)
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