As Q1 2024 comes to an end, lets take a look at the 4 best performing stocks so far.
- Super Micro Computer Inc. (SMCI) – 224% Increase YTD
- Nvidia Corporation (NVDA) – 83% Increase YTD
- Constellation Energy Corporation (CEG) – 50% Increase YTD
- Meta Platforms, Inc. (META) – 43% Increase YTD
SMCI has benefitted greatly from being one of the newest additions to the S&P 500 index. Super Micro Computer annual revenue for 2023 was $7.123B, a 37.09% increase from 2022. Strong revenue growth has benefitted the stock price
Nvidia is an absolute powerhouse right now. Good luck slowing them down! NVIDIA annual revenue for 2024 was $60.922B, a 125.85% increase from 2023.
Constellation Energy Corporation has benefitted from the ESG movement and success with issuing green bonds along with strong guidance.
Meta Platforms has had much success with its cost cutting initiatives over the last two years and by monetizing its current user base. Meta Platforms revenue for the quarter ending December 31, 2023 was $40.112B, a 24.71% increase year-over-year.
Let’s see if these stocks continue to perform well throughout the year or fall off in May as the old adage goes: Sell in May and go away.
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