Nvidia (NVDA) has been surging in 2024, nearly doubling in price. But it’s no longer the best-performing stock in the S&P 500. super microcomputer (SMCI), the company that just joined the S&P 500 has more than tripled its share price in the new year.
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Constellation Energy (CEG), meta platform (Mehta) and Dex Outdoor (deck), is also a new S&P 500 index component, ranking among the top five.
Nvidia and partners Super Micro and Meta Platforms are obviously AI plays, but even Constellation Energy is an AI play of sorts.
The downside is, Tesla (Tesla) and the Dow giants boeing company (Bachelor) is the S&P 500’s biggest loser this year.
The S&P 500 is up 9.7% overall in 2024 and hit a record high last week.
S&P 500 Stocks in 2024
| company | stock ticker | year-to-date returns |
|---|---|---|
| super microcomputer | SMCI | 242.2% |
| Nvidia | NVDA | 90.4% |
| Constellation Energy | CEG | 52.5% |
| meta platform | Mehta | 44.0% |
| Dex Outlook | deck | 38.0% |
super micro inventory
Super Micro stock price surged 242.2% in 2024. The stock bottomed out on Jan. 19 after the artificial intelligence server maker reported strong preliminary results, and continued to rise after it reported full results and bullish guidance later that month.
SMCI shares hit what appeared to be a peak on February 16, but rebounded days later on Nvidia’s latest earnings report. In early March, news broke that Advanced Micro Devices would join the S&P 500 Index, and the stock price jumped to a record high.
Shares were up sharply Monday morning.
Although AMD is the best performing stock exist The S&P 500 index this year, it’s actually been one of the biggest losers for S&P 500 Index. That’s because AMD shares fell 9% last week after joining the benchmark index. Most of this reflects new share issuances.
Super Micro makes servers for Nvidia and other companies’ artificial intelligence chips.
NVIDIA Stock
In 2024, Nvidia’s stock price soared 90.4%. In early January, the stock price broke flat base, decisively cleared months of consolidation and never looked back. NVDA stock has risen for 11 consecutive weeks. On March 8, the AI chip leader reversed sharply lower from a record high of 974 points, but quickly regained its footing. Nvidia shares jumped 7.35% last week and hit a new closing high on Friday.
Shares were higher in early trading Monday.
Last week, Nvidia demonstrated its latest artificial intelligence chip platform at the GTC conference, as well as a series of new products, services and partnerships.
Profit has surged by 429%, 593% and 486% in the past three quarters, and revenue has grown by 101%, 206% and 265%. It is expected to continue to grow strongly in the next few quarters.
China plans to phase out AMD, Intel from government computers: FT
Constellation Energy Stock
Constellation Energy stock surged 52.5% in 2024. Shares soared in late February and early March following strong fourth-quarter results and well-beating 2024 earnings-per-share guidance.
CEG stock was slightly higher Monday morning.
Because data centers require huge amounts of power to run the AI chips and servers from companies like Nvidia and Advanced Micro Devices, power company stocks with significant exposure to nuclear power plants are quasi-AI stocks.
S&P 500 Index Stocks: Yuan Platform
Meta shares are up 44% this year. Nearly half of those gains occurred on February 2, when the stock price rose 20.5%. It comes after the parent company of Facebook and Instagram posted strong and accelerating profit growth, made huge buybacks and paid its first dividend. Since then, the stock price has continued to move higher, but the gains have expanded.
Meta fell slightly on Monday morning.
tex stock
Deckers shares are up 38% in 2024. Like Super Micro, the specialty shoe maker joined the S&P 500 before the market opened on March 18. Unlike SMCI stock, Deckers rose last week, despite falling on Friday on weak 2024 guidance. Nike (NKE).
Shares were slightly higher in early trading Monday.
DECK stock does have four weeks tight This pattern provides an additional buy point at 956.17. But with shares nearly doubling since the rally began in late October, investors may need to wait for a new bottom or at least another test of the 50-day/10-week line.
Deckers makes Ugg boots, Teva sandals and other products, but a big driver of growth is Hoka running shoes.
These two catalysts continue to fuel the rally; three stocks near buy points
S&P 500 losers
Tesla shares rose 4.4% last week to 170.83, but are still down 31.25% in 2024, making it the worst-performing stock in the S&P 500 so far this year. Analysts continue to slash 2024 earnings estimates, and all signs point to a big first for Tesla – with quarterly deliveries falling short of expectations and current consensus.Therefore, although Tesla stock plummets in 2024, but doesn’t get cheaper.
Since joining the S&P 500 in December 2020, Tesla shares have fallen 26.3%.
Shares edged higher on Monday.
Boeing’s performance fell 27.55% in 2024 due to the flight accident on January 5, when part of the 737 Max fuselage detached from the aircraft.This could have long-term consequences, with airlines switching to airbus (European ADSY) due to safety concerns or a slowdown in Boeing production. BA stock nearly hit a 52-week low last week, but later reversed higher, rising 3.5%.
In early trading on Monday, Boeing’s stock price rose slightly amid sharp fluctuations. CEO Dave Calhoun to resign at year’s endChairman Larry Kellner will leave the company in May. Stan Deal, the head of Boeing Commercial Airplanes, will also leave immediately.
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