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Top 10 S&P 500 stocks with the highest returns in 2Q, 2023

Top 10 S&P 500 stocks with the highest returns in 2Q, 2023

In the second quarter of 2023, certain companies within the S&P 500 exhibited remarkable returns, indicating their robust performance and investor interest. 

On Monday, July 3, investor and finance expert Andrew Lokenauth highlighted the top 10 stock market performers in Q2 2023, including cruise line operators Carnival Corp. (NYSE: CCL), Royal Caribbean (NYSE: RCL), and Norwegian Cruise (NYSE: NCLH), tech giants Nvidia (NASDAQ: NVDA), and Meta Platforms (NASDAQ: META), and others from diverse sectors such as pharmaceuticals, construction, and technology solutions.

Carnival Corp. (NYSE: CCL)

Carnival Corp is a cruise line operator offering vacation experiences across its multiple brands. It operates a fleet of ships globally, catering to a wide range of customers with various destinations and onboard amenities.

Three months ago, Carnival posted record booking volumes for all future sailings during its fiscal first quarter. The company’s stock rallied 70.3% in Q2 2023, making it the best-performing stock within the S&P 500. The surge in share price comes amid the strong recovery of the cruising industry after the coronavirus pandemic. 

CCL 3-month price chart. Source: Finbold

Year-to-date, CCL is up more than 136%.

Royal Caribbean (NYSE: RCL)

Royal Caribbean is another major cruise line company known for its innovative ships and diverse itineraries. 

Similar to Carnival Corp., shares of Royal Caribbean also capitalized on the reignited travel demand in 2023, with the company’s revenues nearly tripling in the first quarter of 2023 year-over-year. 

As a result, RCL’s stock price rose almost 58% in Q2 to $103.74 per share. 

RCL 3-month price chart. Source: Finbold

Since the start of the year, Royal’s shares rallied nearly 113%. 

Norwegian Cruise (NYSE: NCLH)

As noted earlier, the cruising industry is staging a strong comeback. Norwegian Cruise is the third-largest cruise line by passengers, accounting for around 9% of the market. 

Amidst the industry rebound, the company’s shares rallied over 56.7% in Q2 2023, climbing to $21.77. 

NCLH 3-month price chart. Source: Finbold

Year-to-date, NCLH gained over 83.5%, propelling its market cap to $9.23 billion.

Nvidia Corp. (NASDAQ: NVDA)

Nvidia is one of the world’s biggest tech giants, specializing in graphics processing units (GPUs) as well as cloud computing and artificial intelligence (AI) solutions. 

Thanks to their cutting-edge speed and power, Nvidia’s GPUs are widely used in gaming, professional visualization, data centers, and autonomous vehicles, powering cutting-edge technologies.

But more importantly, its GPUs are playing a critical role in the ongoing AI sector mania triggered by the emergence of generative AI solutions like ChatGPT, Google Bard, Microsoft Bing, and more. 

In Q2, NVDA shares advanced 48%, and more than a whopping 195% year-to-date, soaring from $143.15 to $423.02.

NVDA 3-month price chart. Source: Finbold

Generac Holdings (NYSE: GNRC)

Generac Holdings (NYSE: GNRC) is a manufacturer of backup power generation products, including generators and energy storage solutions. It caters to residential, commercial, and industrial customers, ensuring reliable power supply in case of outages or grid failures.

The stock rose more than 37% in the second quarter of the year, currently trading at $149.13 per share.

GNRC 3-month price chart. Source: Finbold

GNRC surged 52.63% since January 1, 2023.

Meta Platforms (NASDAQ: META)

Following a challenging 2022, Facebook owner Meta Platforms experienced an impressive comeback story this year, with its shares rising over 130% year-to-date. 

The rally comes amid the improved investor sentiment toward tech stocks, Meta’s aggressive cost-cutting measures, as well as its focus on generative AI. 

In Q2 2023, META shares rose 34.6%, with the stock price currently standing at $286.98.

META 3-month price chart. Source: Finbold

Delta Air Lines (NYSE: DAL)

Delta Air Lines (NYSE: DAL), one of the world’s oldest operating airlines, significantly cashed in on the revived travel demand in the post-pandemic era. 

The company’s shares rose around 34% in the second quarter of 2023 to $47.54. 

DAL 3-month price chart. Source: Finbold

Since the beginning of the year, the stock has gained about 46%. 

Eli Lilly (NYSE: LLY)

Eli Lilly (NYSE: LLY) is a major pharmaceutical company focused on the discovery, development, and manufacturing of medicines. It specializes in areas such as oncology, diabetes, immunology, and neuroscience.

Year-to-date, LLY shares rose more than 28%, thanks to impressive sales numbers driven by new drug launches for global diseases such as cancer and diabetes. 

In Q2 alone, the drugmaker’s stock climbed 33.6%, currently trading at $468.98.

LLY 3-month price chart. Source: Finbold

Pulte Group (NYSE: PHM)

Pulte Group (NYSE: PHM) is a home construction company that designs, builds, and sells residential properties across the United States. Based on the number of homes closed, Pulte is the third-biggest home construction company in the US. 

The company’s shares are up 33.4% in the second quarter, trading at $77.68 at the time of writing. 

PHM 3-month price chart. Source: Finbold

Since the start of the year, Pulte’s stock has risen over 68%.

Broadcom (NASDAQ: AVGO)

Broadcom (NASDAQ: AVGO) is a global technology company specializing in semiconductor and infrastructure software solutions. 

It provides a wide range of products, including chips, networking, storage, and connectivity solutions, serving various industries such as data centers, telecommunications, and consumer electronics.

The company’s stock value appreciated by 32.2% in the second quarter of the year, trading at $867.43 at press time. 

AVGO 3-month price chart. Source: Finbold

Year-to-date, AVGO’s share price is up 56.7%. 

Final Words

From cruise line operators capitalizing on the travel industry’s rebound to tech giants driving cutting-edge innovations, and pharmaceutical companies advancing healthcare solutions, these top performers have delivered significant returns for investors in Q2 2023. 

As the global economy recovers, these companies continued success highlights their ability to adapt and thrive in dynamic market conditions.

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