Nvidia Corp. (NASDAQ:NVDA) has undoubtedly emerged as the standout performer among S&P 500 stocks in the initial two months of 2024.
While the Santa Clara, California-based tech company enjoyed a 60% gain, there's a pack of lesser-trumpeted names that have quietly delivered impressive returns in their own right.
These stocks have significantly outpaced the broader market.
Within the S&P 500 index, 10 stocks have achieved returns exceeding 25% so far this year. Noteworthy among them are three from the Magnificent Seven subset, showcasing the enduring strength of mega-cap tech players.
In contrast, the median S&P 500 stock, tracked by the S&P 500 Equal Weight ETF (NYSE:RSP), has eked out a modest 3% return, while the market-cap weighted SPDR S&P 500 ETF Trust (NYSE:SPY) has posted a more substantial 7% surge.
Top 10 Performing S&P 500 Stocks (As Of Feb. 29, 2024)
Company
YTD Return
Market Cap
NVIDIA Corporation
60.02%
$1,950.35B
Constellation Energy Corporation (NASDAQ:CEG)
43.31%
$53.04B
Meta Platforms, Inc. (NASDAQ:CEG)
38.14%
$1,246.58B
Advanced Micro Devices, Inc. (NASDAQ:CEG)
29.17%
$307.66B
Eli Lilly and Company (NYSE:LLY)
29.03%
$677.07B
Ralph Lauren Corporation (NYSE:RL)
28.37%
$11.83B
Tapestry, Inc. (NYSE:TPR)
28.27%
$10.83B
Catalent, Inc. (NYSE:CTLT)
28.24%
$10.41B
Uber Technologies, Inc. (NYSE:UBER)
28.18%
$163.88B
Juniper Networks, Inc. (NYSE:JNPR)
25.12%
$11.96B
What Wall Street Thinks...
Investors are likely considering whether the top-performing stocks still offer room for further growth, given their already impressive returns.
A reliable measure to gauge this potential is comparing the current stock price with the 1-year median price target projected by Wall Street analysts.
Among the top 10 S&P 500 stocks year-to-date, Uber Technologies stands out with the largest potential upside to its median price target, showing a significant difference of 13.8%. Catalent follows closely behind, boasting a 10% potential upside, while Nvidia still maintains a respectable 7% upside compared to its median price target.
However, it's worth noting that there are other stocks within the S&P 500 index showing even more substantial potential upside.
Here's a summary of the significant disparities between current market prices and Wall Street analysts' forecasts within a one-year horizon.
Top 10 S&P 500 Stocks By Upside Potential Vs. Wall Street's Price Target
Company
1-YearPrice Target (Med) vs Current Price
Warner Bros. Discovery, Inc. (NASDAQ:WBD)
54.73%
Newmont Corporation (NYSE:NEM)
46.80%
Caesars Entertainment, Inc. (NYSE:CZR)
45.11%
The AES Corporation (NYSE:AES)
43.79%
Insulet Corporation (NASDAQ:PODD)
43.12%
First Solar, Inc. (NASDAQ:FSLR)
41.12%
Schlumberger Limited (NYSE:SLB)
41.03%
Carnival Corporation & pIc (NYSE:CCL)
38.85%
Biogen Inc. (NASDAQ:BIIB)
36.04%
Baker Hughes Company (NYSE:BKR)
35.75%
What Reddit Users Think...
A method for gauging social sentiment among U.S. stocks is provided by the VanEck Social Sentiment ETF (NYSE:BUZZ).
This fund allocates investments to companies that exhibit favorable insights gathered from various online sources, such as social media platforms, news articles, blog posts, and other alternative datasets.
Below, a table highlights the top 10 holdings within the BUZZ ETF, along with their year-to-date performance:
Most-Loved Stocks By Social Users
Company
Weight In Buzz ETF
YTDReturn
Coinbase Global, Inc. (NASDAQ:COIN)
4.36%
16.00%
MicroStrategy Incorporated (NASDAQ:MSTR)
3.42
61.51
Super Micro Computer, Inc. (NASDAQ:SMCI)
3.37
203.07
NVIDIA Corporation
3.21
60.06
SoFi Technologies, Inc. (NASDAQ:SOFI)
3.16
-9.55
PayPal Holdings, Inc. (NASDAQ:PYPL)
3.09
-1.68
Tesla, Inc. (NASDAQ:TSLA)
3.07
-19.05
Advanced Micro Devices, Inc.
3.00
29.65
Meta Platforms, Inc.
2.96
38.49
Amazon.com, Inc. (NASDAQ:AMZN)
2.93
15.23
Now Read:EXCLUSIVE: Magnificent 7 Takes Center Stage In Roundhill's Expanded ETF Lineup With Inverse And Leveraged Options
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オーストラリアでは、moomooの投資商品及びサービスはMoomoo Securities Australia Limitedによって提供され、オーストラリア証券投資委員会(ASIC)の管理を受けております(AFSL No. 224663)。「金融サービスガイド」、「利用規約」、「プライバシーポリシー」などの詳細は、Moomoo Securities Australia Limitedのウェブサイトhttps://www.moomoo.com/auでご確認いただけます。