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The Rising Stars Beyond Nvidia: Unveiling the Financial Gems of 2024

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The Rising Stars Beyond Nvidia: Unveiling the Financial Gems of 2024

Nvidia Corp. 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 RSP, has eked out a modest 3% return, while the market-cap weighted SPDR S&P 500 ETF Trust SPY has posted a more substantial 7% surge.

Leading S&P 500 Stocks as of Feb. 29, 2024

Company YTD Return Market Cap
NVIDIA Corporation 60.02% $1,950.35B
Constellation Energy Corporation CEG 43.31% $53.04B
Meta Platforms, Inc. CEG 38.14% $1,246.58B
Advanced Micro Devices, Inc. CEG 29.17% $307.66B
Eli Lilly and Company LLY 29.03% $677.07B
Ralph Lauren Corporation RL 28.37% $11.83B
Tapestry, Inc. TPR 28.27% $10.83B
Catalent, Inc. CTLT 28.24% $10.41B
Uber Technologies, Inc. UBER 28.18% $163.88B
Juniper Networks, Inc. JNPR 25.12% $11.96B

Insights from Wall Street

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-Year Price Target (Med) vs Current Price
Warner Bros. Discovery, Inc. WBD 54.73%
Newmont Corporation NEM 46.80%
Caesars Entertainment, Inc. CZR 45.11%
The AES Corporation AES 43.79%
Insulet Corporation PODD 43.12%
First Solar, Inc. FSLR 41.12%
Schlumberger Limited SLB 41.03%
Carnival Corporation & pIc CCL 38.85%
Biogen Inc. BIIB 36.04%
Baker Hughes Company BKR 35.75%

Reflections From Reddit Users

A method for gauging social sentiment among U.S. stocks is provided by the VanEck Social Sentiment ETF BUZZ.

This fund allocates investments to companies that exhibit favorable insights gathered




The BUZZ ETF: Social Media Stars or Just a Passing Fad?

The BUZZ ETF: Social Media Stars or Just a Passing Fad?

The Top Social Sentiments in the BUZZ ETF

Diving deep into the world of finance, the BUZZ ETF has captured the attention of investors, driven by the sentiments of online communities across various platforms. In a sea of data, a table showcases the top 10 holdings within this ETF, providing insight into both their weight in the fund and year-to-date performance.

Most-Loved Stocks By Social Users

Company Weight In Buzz ETF YTD Return
Coinbase Global, Inc. COIN 4.36% 16.00%
MicroStrategy Incorporated MSTR 3.42% 61.51%
Super Micro Computer, Inc. SMCI 3.37% 203.07%
NVIDIA Corporation 3.21% 60.06%
SoFi Technologies, Inc. SOFI 3.16% -9.55%
PayPal Holdings, Inc. PYPL 3.09% -1.68%
Tesla, Inc. TSLA 3.07% -19.05%
Advanced Micro Devices, Inc. 3.00% 29.65%
Meta Platforms, Inc. 2.96% 38.49%
Amazon.com, Inc. AMZN 2.93% 15.23%

Now Read: EXCLUSIVE: Magnificent 7 Takes Center Stage In Roundhill’s Expanded ETF Lineup With Inverse And Leveraged Options

Image: Midjourney