If it seems like the S&P 500's rally has been going on awhile — you're right. It's been two years and counting.
And you can thank eight S&P 500 stocks, including Nvidia, Super Micro Computer and Vistra for powering the market higher since the last bull ended on Oct. 12, 2022, says an Investor's Business Daily analysis of data from S&P Global Market Intelligence and MarketSurge. All these stocks are up 300% or more in the bulls.
Thanks to such strong gains, the S&P 500's rally so far has been impressive in this bull market. And it could have more legs.
"During the first year of the current bull market, the S&P 500 gained 22%. During this second year, the 500 rose an additional 33.7%, recouping 184% of what was lost in the prior bear market," says Sam Stovall of CFRA. "Encouragingly, all 14 bull markets since 1947 recovered a median of 194% of the prior bear, implying, but not guaranteeing, that this bull market has further to run."
The S&P 500's Impressive Bull Turns Two
Talk about a raging bull market. Just in the second year of the rally, stocks of all sizes, styles and sectors gained, Stovall says.
Not surprisingly, Nvidia is the S&P 500 stock that shined the most in the bull so far. The AI semiconductor giant's shares gained 1,100% during the bull. That's the highest bull-market gain, topping even Super Micro Computer's 804% rise.
It's hard to argue against Nvidia. Shares carry an RS Rating of 98. And thanks to robust earnings growth forecasts of 119% in 2025, the Composite Rating is a perfect 99. The stock is consolidating with a buy point of 140.76.
Other Big Winners, Too
But Super Micro Computer is no slouch, either. The stock's bull market gain is pushing 800%.
Recent activity by bearish investors pushed shares down lately, knocking the RS Rating to 21. But strong earnings make up for some of that. The AI computer maker still sports a 99 EPS Rating. That pulls its Composite Rating up to 57.
If there's surprise winner, though, it's utility Vistra. The electric power utility in Irving, Texas has seen shares shoot up 515% this bull run. Investors are bullish on the company's ability to supply power for AI models.
Analysts are looking for the company's earnings to jump 33% this year and another 42% in 2025. And that's why Vistra carries an 99 RS Rating and 84 Composite Rating. Shares, though, are extended from the 107.24 buy point.
What's Next?
It's unrealistic to think the S&P 500 can keep rallying like this forever. Some turbulence is to be expected.
The S&P 500's average return following a two-year bull run is just 2%, Stovall says. Additionally, in the third year there was always a drop of at least 5%.
"Despite the above-average gain in the first two years of this bull market, history says that investors need to be prepared for a possible setback in the coming 12 months," he said.
Top S&P 500 Stocks In Two-Year Old Bull Market
| Company Name | Ticker | % gain during bull | Sector |
|---|---|---|---|
| Nvidia | NVDA | 1,100.6% | Information Technology |
| Super Micro Computer | SMCI | 804.0% | Information Technology |
| Vistra | VST | 516.9% | Utilities |
| Palantir Technologies | PLTR | 437.8% | Information Technology |
| Fair Isaac | FICO | 410.5% | Information Technology |
| Meta Platforms | META | 363.1% | Communication Services |
| Royal Caribbean Cruises | RCL | 333.8% | Consumer Discretionary |
| Broadcom | AVGO | 323.4% | Information Technology |
