Year-end review | Who will be the king of stock gains in the US market in 2024?

As 2024 is about to end, the main agenda of the US stock market this year has already concluded. At the end of the year, it is a good time to review the big winners of thematic speculation this year. This year, many outstanding stocks have emerged in the US stock market, becoming the focus of investors' attention. The excellent performance of those stocks with extremely high gains not only reflects the market's optimistic expectations for their future growth potential but also shows investors' enthusiastic pursuit of specific themes. Against this backdrop, let's take a look at who the "King of US Stock Gains in 2024" is?

This ranking mainly focuses on the constituent companies of the Nasdaq 100 and the S&P 500. In addition to the S&P 500 and Nasdaq 100 constituents, some emerging US stocks have also performed brilliantly. For example, Quantum Computing in the field of quantum computing has seen a gain of 1772.2% this year. KULR Tech in the electronics sector has also risen by 1748.6%, both showing impressive performances that everyone should pay attention to!

AppLovin Corporation (APP) has achieved a staggering gain of 757.8% this year, ranking first. This year, AppLovin's revenue and net profit have grown significantly. According to the Q3 2024 financial report, AppLovin's revenue reached $1.2 billion, a year-on-year increase of 39%; net profit was $434 million, a year-on-year increase of 300%. AppLovin's AXON 2.0 advertising engine utilizes artificial intelligence technology to enhance ad monetization rates, providing more precise delivery capabilities for advertising partners, becoming an important catalyst for business growth. With an expanding user and application coverage, AppLovin's programmatic advertising trading platform has over 1.5 billion global users, integrating 60,000 mobile applications, which broadens the reach and enhances the return on investment for advertisers and revenue for app developers. By acquiring Zynga's game portfolio, AppLovin has expanded its user base and extended its business into the e-commerce advertising sector, further driving the company's valuation growth.

The second place goes to MicroStrategy. MicroStrategy (MSTR) leads with an astonishing gain of 467.08%, with a market capitalization of $83 billion. In recent years, MicroStrategy has gained attention for its large-scale investments in Bitcoin, becoming one of the largest corporate holders of Bitcoin globally. The company raises funds through issuing stocks and fixed-income securities to purchase Bitcoin

The big data analytics software company Palantir Technologies (PLTR) ranks third with an approximately 316% increase year-to-date. Palantir focuses on intelligence analysis of massive data, and its business is closely related to artificial intelligence (AI), machine learning, and big data. Major clients include defense and security contractors, benefiting from this year's booming defense concept in overseas markets. Additionally, its enterprise (ToB) business attributes have significantly driven the company's stock price up under the wave of AI applications. On December 23, Palantir, which was originally only in the S&P 500 index, was also included in the Nasdaq 100 index.

Following closely are companies in the energy sector. The American electric giant Vistra Corp (VST) has risen approximately 247% this year, ranking fourth. Vistra's growth is attributed to its strategic layout of 'coal-to-gas transition' and nuclear power, as well as its large-scale stock repurchase plan.

Fifth is NVIDIA Corporation (NVDA), which has increased approximately 183% year-to-date. As a leader in the AI chip sector, NVIDIA's stock price has surged this year mainly due to its strong performance in the artificial intelligence field and the high demand for its products. NVIDIA launched several new products in 2024, including the high-performance Blackwell chip and the upcoming Rubin AI chip platform, which have attracted significant investor attention due to their innovation and performance improvements. Furthermore, NVIDIA's financial performance has also been outstanding, with third-quarter revenues reaching $35.1 billion and net profits of $19.3 billion in 2024, demonstrating strong profitability and market competitiveness. Additionally, the market's fervent pursuit of artificial intelligence technology has also driven NVIDIA's stock price up, with analysts believing that its market value growth reflects Wall Street's high expectations for AI technology. Finally, NVIDIA's stock price increase has also been supported by financial institutions, with Bank of America and Goldman Sachs listing it as a top investment option, further enhancing market confidence.

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The sustainable energy business GE Vernova (GE), spun off from General Electric, has risen approximately 175%, ranking sixth. Vistra's growth is attributed to its strategy of "transitioning from coal to gas power" and nuclear power, as well as a large-scale stock buyback program. Since 2021, the company has spent about $4.25 billion on buybacks, with its latest market capitalization around $45.2 billion.

Ranking seventh is Axon Enterprise (AXON), with an increase of about 136%. The company is known for producing stun guns and also offers products such as body cameras, drones, and digital evidence management platforms. By signing subscription contracts with law enforcement agencies, the company has achieved continuous revenue growth, and AXON was included as one of the components of the Nasdaq 100 index this past Monday (December 23).

The eighth to tenth places are occupied by Broadcom Inc. (AVGO, 121.2%), United Airlines (UAL, approximately +121%), and Texas Pacific Land Company (TPL, 118.71%). Holding these stocks has more than doubled the principal.

The above is this year's top 10. Of course, we must also mention that among companies with a market capitalization exceeding $100 billion in the U.S. stock market, Tesla (Tesla) has risen 86% this year. Tesla is expected to deliver approximately 515,000 vehicles in the fourth quarter of 2024, setting a new quarterly record, with a slight increase in annual delivery volume anticipated. Despite a recent slight decline in vehicle insurance registrations in the Chinese market, the overall quarterly performance remains strong, with a 10% increase compared to the previous quarter and a year-on-year increase of 15.6%. Multiple analysts have raised their ratings and target prices for Tesla stock, further boosting market confidence

Please note that the stock market is volatile, and investments should be made with caution