Skip to content

2 unstoppable non-tech stocks set to join the $1 trillion club

2 unstoppable non-tech stocks set to join the $1 trillion club
Paul L.
Stocks

Tesla (NASDAQ: TSLA) is the latest stock to reach the $1 trillion market capitalization status, as other equities show potential for joining this exclusive club.

Indeed, technology stocks dominate those that have attained the $1 trillion milestone, driven by the ongoing market rally. And now, some non-technology equities are showing the potential to cross this threshold. 

If the ongoing post-election market rally is sustainable, the following two non-technology stocks will likely claim the $1 trillion market cap spot.

Eli Lilly (NYSE: LLY)

As of the latest trading session, pharmaceutical giant Eli Lilly (NYSE: LLY) had a market cap of $789.39 billion. The stock needs an upside of 26% to reach the $1 trillion mark, but a look at the company’s recent share price trajectory suggests it could be within reach.

As of press time, LLY was trading at $831.54, up over 4% in the past 24 hours. Year-to-date, the stock has surged 36%.

LLY YTD stock price chart. Source: Finbold

The company’s fundamentals and overall stock market sentiment will be central to attracting capital inflow. 

Eli Lilly’s investment in research and development, particularly in diabetes, oncology, and neuroscience, will be crucial in boosting investor confidence.

Demand for its essential products, especially weight-loss drugs, will likely drive the firm’s revenue growth. In this case, products such as Mounjaro and Zepbound, continue to show sustained consumer interest, although the company has faced inventory challenges. 

During the third quarter, these two products contributed $3 billion to the total revenue of $11.44 billion, which surged 20% year over year.

At the same time, JPMorgan analyst Chris Schott maintained an ‘Overweight’ rating on the stock with a price target of $1,100.

Walmart (NYSE: WMT)

Walmart’s (NYSE: WMT) growth potential is evident from its massive business operations and unique competitive advantage in the retail sector. Over the years, the stock has shown resilience, even defying economic downturns.

Walmart stands out mainly because over half of its revenue is related to groceries. In the second quarter, the retail giant reported earnings per share of 67 cents, surpassing Wall Street’s expectation of 65 cents, while revenue reached $169.34 billion, above the forecast of $168.63 billion.

At the same time, institutional interest in Walmart further hints at the stock’s potential. For instance, in the third quarter, Oxbow Advisors increased its position in Walmart Inc. by 45.0%, bringing it to 28,453 shares.

WMT was valued at $84.83 at press time, ending the latest trading session up about 1%. In 2024, the stock has rallied nearly 60% with a market capitalization of $681.88 billion, indicating it needs a 46% gain to reach the $1 trillion mark.

WMT YTD stock price chart. Source: Finbold

In conclusion, Eli Lilly and Walmart exhibit strong growth potential, supported by solid fundamentals and high demand for their key products. If market conditions remain favorable, they could be well-positioned to join the exclusive $1 trillion market cap club.

Featured image via Shutterstock

Best Crypto Exchange for Intermediate Traders and Investors

  • Invest in cryptocurrencies and 3,000+ other assets including stocks and precious metals.

  • 0% commission on stocks - buy in bulk or just a fraction from as little as $10. Other fees apply. For more information, visit etoro.com/trading/fees.

  • Copy top-performing traders in real time, automatically.

  • eToro USA is registered with FINRA for securities trading.

30+ million Users
Securities trading offered by eToro USA Securities, Inc. (“the BD”), member of FINRA and SIPC. Cryptocurrency offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance. Finbold.com is not an affiliate and may be compensated if you access certain products or services offered by the MSB and/or the BD

Read Next:

Finance Digest

By subscribing you agree with Finbold T&C’s & Privacy Policy

Related posts

Sign Up

or

By submitting my information, I agree to the Privacy Policy and Terms of Service.

Already have an account? Sign In

Services

Disclaimer: The information on this website is for general informational and educational purposes only and does not constitute financial, legal, tax, or investment advice. This site does not make any financial promotions, and all content is strictly informational. By using this site, you agree to our full disclaimer and terms of use. For more information, please read our complete Global Disclaimer.