The 10 Stocks Driving S&P 500 Returns in 2024

Investors, take note! 2024 is shaping up to be a landmark year for the S&P 500, and it's all thanks to a select group of powerhouse stocks. As we navigate the dynamic financial markets, identifying the leading companies can be your gateway to substantial wealth. Here's a deep dive into the ten stocks propelling the S&P 500 to new heights and why they should be on your radar.

1. Nvidia (NVDA)

The AI Pioneer

• Market Cap: $1.2 Trillion

• YTD Performance: +65%

• Contribution to S&P 500 Return: 4.94%

• Nvidia's leadership in graphics processing units (GPUs) and AI technology positions it as a critical player in the tech sector. With AI and machine learning on the rise, Nvidia's stock is set to soar.

2. Microsoft (MSFT)

The Cloud Giant

• Market Cap: $2.5 Trillion

• YTD Performance: +20%

• Contribution to S&P 500 Return: 1.24%

• Microsoft's robust cloud computing division, Azure, is a cornerstone of its growth. Coupled with strong enterprise software sales, Microsoft remains a tech titan worth your investment.

3. Alphabet (GOOGL)

The Search Engine Behemoth

• Market Cap: $1.8 Trillion

• YTD Performance: +18%

• Contribution to S&P 500 Return: 0.97%

• Alphabet, the parent company of Google, leverages its dominance in digital advertising and expanding ventures into AI and cloud computing to fuel growth, making it a stock market stalwart.

4. Meta Platforms (META)

The Social Media Titan

• Market Cap: $950 Billion

• YTD Performance: +30%

• Contribution to S&P 500 Return: 0.84%

• Formerly known as Facebook, Meta Platforms is capitalizing on the metaverse trend while maintaining its dominance in social media and digital advertising, ensuring robust stock performance.

5. Apple (AAPL)

The Innovator's Playground

• Market Cap: $2.8 Trillion

• YTD Performance: +25%

• Contribution to S&P 500 Return: 0.81%

• Apple continues to dominate with its cutting-edge technology and innovative products. The company's relentless focus on consumer experience keeps it at the forefront, driving massive revenue and consistent stock performance.

6. Amazon (AMZN)

The E-commerce Emperor

• Market Cap: $1.7 Trillion

• YTD Performance: +15%

• Contribution to S&P 500 Return: 0.72%

• Amazon's vast e-commerce empire and leading position in cloud services through AWS make it a crucial player in the S&P 500. Its continuous expansion into new markets ensures sustained growth.

7. Broadcom (AVGO)

The Connectivity Leader

• Market Cap: $330 Billion

• YTD Performance: +12%

• Contribution to S&P 500 Return: 0.62%

• Broadcom's extensive range of semiconductor and infrastructure software solutions places it at the heart of the tech industry, driving consistent stock performance and market growth.

8. Eli Lilly (LLY)

The Pharmaceutical Pioneer

• Market Cap: $380 Billion

• YTD Performance: +40%

• Contribution to S&P 500 Return: 0.60%

• Eli Lilly's innovative pharmaceutical solutions, particularly in diabetes and cancer treatments, have propelled its stock performance. The company's commitment to cutting-edge research and development ensures its pivotal role in the healthcare sector.

9. Berkshire Hathaway (BRK.B)

The Investment Powerhouse

• Market Cap: $750 Billion

• YTD Performance: +10%

• Contribution to S&P 500 Return: 0.22%
  

• Warren Buffett's conglomerate remains a beacon of smart investing. Berkshire Hathaway's diversified portfolio and strategic acquisitions make it a resilient and attractive investment.

10. Qualcomm (QCOM)

The Wireless Innovator

• Market Cap: $140 Billion

• YTD Performance: +10%

• Contribution to S&P 500 Return: 0.21%

• Qualcomm's advancements in wireless technology and 5G connectivity ensure its strong market position and continued growth, making it a key player in the tech industry.

Top 10 Stocks Driving S&P 500 Returns in 2024.pdf

Download PDF • 40.39MB

Why These Stocks Matter to You

Investing in these top-performing stocks can significantly bolster your portfolio, providing stability and growth potential. However, chasing momentum alone is not a good idea. 

You should be chasing momentum, value and growth as well as statistical out-performers that recover quickly from a few shallow falls as possible. These companies are not just leaders in their respective fields; they are driving the overall market forward. 

Their continued innovation, market penetration, and strategic initiatives make them indispensable to any savvy investor.

The Campaign for a Million Advantage

At Campaign for a Million, we are committed to helping you navigate these investment opportunities. Our platform provides insights, strategies, and tools to capitalise on the potential of these leading stocks.

Whether you're a seasoned investor or just starting, aligning your investments with these market leaders can be your pathway to financial success.

Join us in making informed, impactful investment decisions. Visit www.campaignforamillion.com and take your first step towards unlocking substantial wealth today!

Alpesh Patel OBE

Visit www.alpeshpatel.com/shares for more and see www.alpeshpatel.com/links

Disclaimer: The content provided on this blog is for informational purposes only and does not constitute financial advice. The opinions expressed here are the author's own and do not reflect the views of any associated companies. Investing in financial markets involves risk, including the potential loss of your invested capital. Past performance is not indicative of future results. 

You should not invest money that you cannot afford to lose. Mentions of specific securities, investment strategies, or financial products do not constitute an endorsement or recommendation. The author may hold positions in the securities discussed, but these should not be viewed as personalised investment advice.  

Readers are encouraged to conduct their own research and seek professional advice before acting on any information provided in this blog. The author is not responsible for any investment decisions made based on the content of this blog.