US Stocks in the First Half of the Year: NVIDIA and S&P Global Inc. Performed the Best! JD.com Unexpectedly Plunged.
NVIDIA, which soared 189% in the first half of the year, not only achieved the best half-year increase in its stock price, but also outperformed all other stocks in the S&P 500 and Nasdaq 100 indices. On the other hand, JD.com experienced a 39% decline in the first half of the year, marking its worst performance ever in the first half.
June has passed and we have entered July.
Looking back at the first half of the year, the market has experienced the test of the Silicon Valley Bank crisis and the recession risk of the Federal Reserve's interest rate hike. In the wave of the artificial intelligence (AI) boom, it has found some consolation from the tech giants.
Who has performed the best in the past six months? And who has suffered the most? Investors already have some answers in their minds.
Strong Performance!
As the absolute leader in AI chips, NVIDIA has undoubtedly become the best-performing stock in the S&P 500 Index and the NASDAQ-100. According to the Dow Jones Industrial Average market data, NVIDIA, which soared 189% to $423.02 in the first half of the year, achieved its best half-year gain.
Among the Dow Jones Industrial Average components, the best-performing stock is Salesforce, which rose 59% to $211.26 in the first half of the year. It also hitched a ride on the AI trend and achieved its best half-year performance.
Wedbush's star tech stock analyst, Dan Ives, predicted in a report in early June that with major tech giants starting to "compete for the iron throne," the monetization potential of AI in the next decade will reach $800 billion. Salesforce's key initiative to integrate generative AI and improve platform efficiency has put the company in an enviable position in terms of AI monetization.
Suffering from a Steep Decline!
Surprisingly, among the NASDAQ-100 components, the stock with the largest decline in the first half of the year is a Chinese concept stock - JD.com, which fell 39% and achieved its worst half-year performance ever.
Although JD.com previously reported better-than-expected quarterly results, investors still have concerns about a series of uncertainties.
Looking at the Dow Jones Industrial Average components, the stock that suffered the most in the first half of the year is the retail pharmacy chain Walgreens Boots Alliance, which fell 24% in the first half of the year. It recently lowered its profit forecast for this year and stated that the latest quarter's profit will be affected by a decrease in COVID-19 testing and vaccine administration.
Advance Auto Parts, a retailer of automotive parts, was the hardest hit company among the S&P 500 constituents, with a 52% decline in the first half of the year. The company released a disappointing quarterly report in May, with earnings per share of only $0.72, less than a third of Wall Street's consensus estimate of $2.56.
