Nvidia (NVDA) was the top S&P 500 stock performer in 2023 and led the benchmark index through much of this year. But no longer. Power generation firm Vistra (VST) skyrocketed in September to race past Nvidia stock.
Nuclear power play Constellation Energy (CEG) and data analytics firm Palantir Technologies (PLTR) are also triple-digit winners, followed by Howmet Aerospace (HWM). Howmet stock is the only one of the top-five S&P 500 stocks that’s not an artificial intelligence stock or an AI-adjacent play.
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Palantir stock is among the newest S&P 500 members, joining Sept. 23. Vistra stock was added on May 8.
Nvidia stock is on Leaderboard and SwingTrader. Nvidia, Palantir and Howmet Aerospace stock are on the IBD 50. Howmet Aerospace and Palantir stock are on the IBD Big Cap 20.
S&P 500 Stocks: Top 2024 Performers
| Company | Stock | YTD return |
|---|---|---|
| Vistra | VST | 218.15% |
| Nvidia | NVDA | 136.26% |
| Constellation Energy | CEG | 127.23% |
| Palantir Technologies | PLTR | 112.35% |
| Howmet Aerospace | HWM | 86.47% |
Vistra Stock
Vistra is a diversified electric utility and power generation firm, with natural gas, nuclear, solar and battery storage facilities. Vistra and many other power generators, including Constellation Energy, have become AI-adjacent plays because AI data centers have enormous power needs.
Earnings have powered higher as electricity prices surge.
Vistra stock has soared 218.15% in 2024, surging 38.75% in September and hitting a fresh all-time high on Oct. 1. In late September, VST stock surged out of a base going back to late May, according to MarketSurge analysis. Shares are now extended from that 107.24 buy point. Vistra was rallying on Constellation Energy’s plan to reopen Three Mile Island.
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Nvidia Stock
Nvidia is the AI chip leader, with earnings and sales growth in the triple digits for five straight quarters. Those streaks may end in the October-ended fiscal Q3. It’s getting ready to shift to its next-generation AI process, the Blackwell line.
Nvidia stock has gained 136.3% this year, but down slightly since mid-year. NVDA stock has rebounded since early September. Shares have a 131.26 buy point from an unusual handle.
Constellation Energy Stock
Constellation Energy is a nuclear power giant. Earnings are beginning to power up as electricity prices surge.
On Sept. 20, it announced plans to restart Unit 1 of the Three Mile Island nuclear plant, aiming to bring that back on line in 2028. Constellation has a 20-year deal to sell all its power to Microsoft (MSFT) for its data center needs.
Constellation Energy stock has surged 127.2% in 2024. Shares vaulted 22% Sept. 20 on the Three Mile Island news, racing past a buy point from a base going back to late May. CEG stock is now extended from the buy zone, at a record close.
Palantir Stock
The data analytics play has traditionally gotten most of its revenue from the U.S. military and other government agencies, but commercial revenue is booming. Revenue growth has accelerated for four straight quarters, to 27% in Q2. Earnings growth has been strong, at 80% in Q2.
Palantir stock has jumped 112.35% in 2024. That includes a huge run from the Aug. 5 low of 21.23. News that PLTR stock would join the S&P 500 fueled a 14% gain on Sept. 9.
Despite more than doubling, this S&P 500 stock has been tough to hold, with two powerful breakouts that ultimately failed before shares rebounded.
S&P 500: Howmet Aerospace Stock
The maker of titanium alloy products for Boeing (BA), Airbus (EADSY) and others is riding the boom in jet demand. Earnings jumped 52% in Q2, the best year-over-year gain in years.
Howmet stock has risen 86.5% in 2024, with earnings-gap breakouts in early May and late July. The non-AI S&P 500 stock leader recently cleared a seven-week range, with a 98.15 three-weeks-tight entry offering a new buying opportunity.
HWM stock edged higher Tuesday, hitting a record high.
Please follow Ed Carson on Threads at @edcarson1971 and X/Twitter at @IBD_ECarson for stock market updates and more.
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