Title: Top Performers and Losers in the S&P 500 in 2024
Nvidia (NVDA) and Super Micro Computer (SMCI) have been making waves in the stock market this year, with both companies delivering impressive returns. While Nvidia has seen significant gains, it has been overshadowed by the explosive performance of Super Micro Computer, a newcomer to the S&P 500. In addition to these two AI-focused companies, Constellation Energy (CEG), Meta Platforms (META), and Deckers Outdoor (DECK) have also emerged as top performers in the S&P 500.
On the flip side, Tesla (TSLA) and Boeing (BA) have struggled in 2024, ranking as the biggest losers in the S&P 500. Despite this, the overall S&P 500 has seen a 9.7% increase this year, reaching record highs last week.
Here’s a closer look at the top performers and losers in the S&P 500 for 2024:
Super Micro Computer (SMCI)
Super Micro Computer stock has surged by an impressive 242.2% in 2024. The company’s strong preliminary results and bullish guidance propelled the stock to new heights, especially after joining the S&P 500. However, a recent share offering led to a slight dip in share price.
Nvidia (NVDA)
Nvidia stock has soared by 90.4% in 2024, showcasing consistent growth and strong quarterly results. The AI chip leader has continued to innovate with its latest product offerings and partnerships, driving investor optimism.
Constellation Energy (CEG)
Constellation Energy stock has seen a 52.5% increase in 2024, reflecting strong Q4 results and promising EPS guidance for the year. The company’s focus on providing power for data centers has positioned it as a quasi-AI play in the market.
Meta Platforms (META)
Meta Platforms stock has rallied by 44% in 2024, with a significant boost in February following positive financial reports and shareholder-friendly moves. Despite reaching extended levels, the company continues to show growth potential.
Deckers Outdoor (DECK)
Deckers Outdoor stock has climbed by 38% in 2024, with a recent inclusion in the S&P 500. The company’s diverse range of footwear products, including the popular Hoka running shoes, has contributed to its success in the market.
While some companies are experiencing great success in 2024, others, like Tesla and Boeing, are facing challenges. Despite the mixed performance in the S&P 500, investors are closely watching these top performers and losers to gauge market trends and opportunities.
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