The stock market has been riding a high-speed train, fueled by a 24% increase in 2023. Yet, the exhilarating journey doesn’t halt there. As of Mar. 21, the renowned S&P 500 has added another 9.9% to its soaring trajectory. The excitement on Wall Street stems from the anticipation of potential interest rate drops and a sturdy U.S. economy, maintaining its growth stance.

Among the multitude of stocks flourishing in this bullish atmosphere, a select few have outshone the rest by tripling the year-to-date returns of the market. Let’s delve into the success stories of three major achievers this year: Meta Platforms (NASDAQ: META), Deckers (NYSE: DECK), and Netflix (NASDAQ: NFLX).

Deckers: Striding Ahead

Deckers is gliding effortlessly on a wave of robust demand for its renowned footwear brands like Hoka and Ugg. This success story sets it apart from competitors such as Nike, grappling with feeble sales and pricing trends.

Deckers faces no such hurdles. In fact, its sales surged 16% in the third quarter of fiscal 2024 (closed on Dec. 31). Contrasting this with Nike’s modest sales dip in the latest reported quarter, investors are drawn to Deckers’ stock. Moreover, the company is retailing many products at full price, showcasing its divergence from rivals. Gross profit margin escalated to 53% of sales last quarter from 48% in the comparable period a year ago.

The management revised its fiscal 2024 forecast upwards for the second time recently. With low inventory levels hinting at ample room for earnings growth and enhanced stock returns in the future.

Meta Platforms: Revitalized Growth

A year ago, concerns about Meta Platforms’ decelerating growth and escalating expenses loomed large. However, these worries have dissipated in the past quarters. This social media titan is not just enlarging its user base but also enhancing the economics surrounding its advertisements.

With major advertisers persisting with Facebook and Instagram platforms despite reducing expenditures elsewhere, ad impressions surged by 21% in the fourth quarter, contributing to a 25% revenue hike. Paired with substantial cost-cutting measures (a 22% reduction in employee headcount last quarter), the stage is set for a soaring bottom line.

Net income rocketed by 69% in 2023 to $39.1 billion. As if this wasn’t enough to appease Wall Street, Meta initiated a dividend with the first payout landing in shareholders’ accounts in late March.

Netflix: A Rejuvenated Rise

Watch out for Netflix stock, as it embarks on a journey back towards its all-time high set in late 2021. The streaming behemoth has taken investors on a roller-coaster adventure in recent years. With shares plummeting from around $690 to $170 amidst the pandemic’s growth lull, the company weathered its first-ever consecutive quarters of subscriber losses in Q1 and Q2 of 2022.

However, that slump proved to be a momentary blip. Year-over-year subscriber growth has accelerated for four consecutive quarters, with a 12.8% surge in Q4. Netflix now boasts 260.3 million paying subscribers, up from 230.8 million at the outset of 2023.

Enthusiasm abounds on Wall Street for even swifter growth ahead as Netflix’s ad business matures and its crackdown on account-sharing continues to yield benefits. As long as Netflix sustains its subscriber base growth, cash flow, and operating margins, investors can anticipate stellar returns from this stock.

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Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to Meta Platforms CEO Mark Zuckerberg, is a member of The Motley Fool’s board of directors. Demitri Kalogeropoulos has positions in Meta Platforms, Netflix, and Nike. The Motley Fool has positions in and recommends Meta Platforms, Netflix, and Nike. The Motley Fool recommends the following options: long January 2025 $47.50 calls on Nike. The Motley Fool has a disclosure policy.