17 Stocks in S&P 500 Have Hit All-Time Highs
The recent bear market, spanning 142 trading days, marked the longest bear streak since 1948, yet its duration didn't feel extensive to many, leaving some investors cautious about the current market rally.
If you still harbor doubts about the bullish sentiment, here's an additional statistic for your consideration: 17 stocks within the S&P 500 Index have achieved record highs! This occurrence is highly unlikely during a bear market and signifies that these stocks have not only recovered from their losses in 2022 but have surpassed them, resulting in profitable outcomes for their shareholders.
Furthermore, it's worth noting that most of these stocks are not primarily related to AI, which means that their share prices are not hyped up.
Listed below is a compilation of these 17 stocks, arranged in descending order of market capitalization.
#1 Apple (AAPL)
On January 4th, 2022, Apple reached its previous peak at $181.36, which was eventually surpassed on June 5th. Since its low point during the Covid pandemic, Apple share price has surged 257%. With a current market capitalization of $2.926 trillion, Apple appears poised to become the first company ever to reach the $3 trillion mark.
#2 Microsoft (MSFT)
Microsoft, another big tech valued at over a trillion dollars, is achieving new all-time highs. Previously, Microsoft's peak was recorded at $344.80 on November 22nd, 2021. Since its lowest point during the Covid pandemic, Microsoft has experienced a share price gain of 171%. Currently, Microsoft boasts a market capitalization of $2.588 trillion.
#3 Nvidia (NVDA)
Given the extensive media coverage surrounding Nvidia, its inclusion on this list should come as no surprise. Nvidia's stock price reached a peak of $346.01 on November 22nd, 2021. However, on May 25th, 2023, Nvidia announced outstanding quarterly results that triggered a significant 25% surge in its share price, surpassing its previous high. Since the lowest point during the Covid pandemic, Nvidia has experienced an extraordinary gain of 847%.
#4 Eli Lilly (LLY)
Unlike many other stocks that faced significant drawdowns, this pharma stock continued to ascend steadily without displaying any bearishness. It has proven to be a highly resilient stock, demonstrating consistent growth in its share price. Since reaching its lowest point during the Covid pandemic, this stock has surged by an impressive 307%.
#5 Oracle (ORCL)
In a previous post, I highlighted Oracle's less-than-favorable fundamentals, yet the stock managed to reach new record highs. One possible explanation for this unexpected surge could be attributed to the AI hype, as Oracle's cloud business is experiencing rapid growth outpacing its competitors. Oracle's previous peak was recorded at $103.70 on December 10th, 2021 and was surpassed in May 2023. Since reaching its lowest point during the Covid pandemic, the share price has soared by 236%.
#6 Linde (LIN)
Linde is an industrial gas supplier. Its previous peak was recorded at $344.29 on January 5th, 2022. However, earlier this year, in February 2023, the stock surpassed it. Since its lowest point during the Covid pandemic, it has experienced a gain of 170%.
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